Gasgoo Munich- Xiaomi Group released its financial results for the first quarter of 2026. Revenue for the innovative business segment—encompassing smart EVs and AI—reached 19.9 billion yuan, up 6.9% year-on-year. Smart EV revenue alone stood at 19 billion yuan.
Image Credit: Xiaomi EV
Deliveries hit 80,856 units in the first quarter, a 6.6% increase from a year earlier. By April 23, cumulative deliveries had surpassed 655,000 units. By model, the Xiaomi YU7 series has delivered over 230,000 units in the 10 months since launch. Meanwhile, the new-generation Xiaomi SU7 delivered 26,000 units in just 35 days, with locked orders exceeding 80,000 during the initial sales period.
In terms of market performance, the Xiaomi SU7 ranked first in pure electric sedan sales above 200,000 yuan from January to April 2026, while the Xiaomi YU7 took second place in the SUV segment. On May 21, Xiaomi launched the YU7 Standard and YU7 GT variants. The YU7 GT, developed with deep involvement from Xiaomi EV's European R&D center, set a new SUV lap record at the Nürburgring Nordschleife with a time of 7 minutes and 22.755 seconds.
On the globalization front, Xiaomi EV has officially established its European R&D center. The team has assembled technical talent from Porsche, Lamborghini, Mercedes-Benz, and BMW, laying the foundation for expanding into overseas markets.
On the technology front, Xiaomi released the Xiaomi XLA cognitive large model architecture in March, shifting advanced driving assistance from "perception and imitation" to "understanding and reasoning." This was upgraded to Xiaomi OneVL in May, the first to unify VLA, world models, and latent space reasoning. Additionally, Xiaomi's humanoid robots began hands-on training in the auto factory in March, marking a key step into Physical AI.
