Chinese tech giant Xiaomi has set a target of selling 550,000 electric vehicles in 2026, representing a 34% increase compared to 2025 sales. The announcement was made by founder and CEO Lei Jun during a live broadcast, according to EFE and Agerpres.
“We will devote more energy to the automotive industry this year,” Lei Jun said, adding that Xiaomi plans to invest around $28.6 billion in research and development over the next five years.
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However, the 2026 target signals a slower growth pace than in 2025, when Xiaomi’s EV sales nearly tripled to around 410,000 units. “The goal should be neither too high nor too low,” Lei noted, expressing confidence in meeting the target.
Based in Beijing, Xiaomi has not announced a new vehicle launch for 2026. The company entered the EV market with the SU7 sedan in April 2024 and expanded its lineup in June 2025 with the YU7 SUV, which has accounted for roughly 70% of recent sales.
Xiaomi is not alone in pursuing ambitious goals. BYD, the global EV market leader, plans to boost sales by 19%, while Leapmotor expects sales growth of up to 40% this year.
Photo: Euronews
