Higher target signals deeper push into EVs

Xiaomi Corp. has raised its electric vehicle delivery target for 2026, underscoring a stronger strategic focus on the segment as it looks to diversify revenue beyond consumer electronics. According to Caixin Global, the company now aims to deliver 550,000 electric vehicles next year.

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Founder outlines revised outlook

The updated goal was shared by founder Lei Jun during a livestream on Saturday. The new target represents an increase of roughly 34 percent compared with the 410,000 vehicles Xiaomi delivered in the previous year, marking a significant step up in scale for its automotive ambitions.

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Confidence tempered by competitive and safety pressures

The revised outlook reflects Xiaomi’s confidence in continued growth of its EV business, despite intensifying competition in China’s crowded electric vehicle market. The company is also operating under heightened scrutiny following a fatal crash in March involving a Xiaomi sedan that was running with its assisted driving system activated. The incident has drawn public attention to the safety and reliability of automated driving features, adding complexity to Xiaomi’s expansion plans.

Together, the higher delivery target and ongoing challenges highlight how central the electric vehicle business has become to Xiaomi’s longer-term growth strategy.

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