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Xiaomi's EV Division Posts 2.6 Billion Yuan Loss in Q2 2026

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Xiaomi's EV Division Posts 2.6 Billion Yuan Loss in Q2 2026
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The Gist

“Xiaomi's EV division recorded an operating loss of 2.6 billion yuan in Q2 2026, despite a 17.1% increase in revenue compared to the same quarter last year. The company's EV business alone accounted for 23.9 billion yuan, marking a 15.9% year-on-year increase, but the division remains unprofitable due to higher costs and lower gross margins.”

Xiaomi's Smart EV, AI and Other New Initiatives segment has posted a significant loss in Q2 2026, highlighting the challenges faced by the company's electric vehicle division. Despite a notable increase in revenue, the division remains unprofitable.

Key Insights

Xiaomi's EV division recorded an operating loss of 2.6 billion yuan in Q2 2026, with revenue increasing by 17.1% compared to the same quarter last year, reaching 24.9 billion yuan. Vehicle deliveries rose by 28.2% to 104,199 units, with the SU7 Ultra model series being a key contributor. The company's EV business alone accounted for 23.9 billion yuan, marking a 15.9% year-on-year increase.

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