Xiaomi was the absolute blockbuster story of the EV market in 2024 and rolling into 2025. Well, yes, you’ve got BYD’s rise to the top of the charts — by far — at that time, and that shouldn’t be discounted. It was exciting, and I seriously wondered how high it could rise within a couple of years. Building on its massive background as a consumer tech leader, it was doing what we expected for years Apple, Samsung, and/or Sony would do. So, the question was how far that brand strength — and the great EVs it was building — would take the company. The company’s sales target for 2026 is 550,000 vehicle deliveries. That would be a humongous achievement after only a couple of years on the market. Few companies have reached half a million EV sales in a single year. Unfortunately, things aren’t going to plan so far. With July data now in, Xiaomi has achieved 216,322 vehicle deliveries in 2026. That’s not quite half of the company’s target for the year, but we’re more than a month past the year’s halfway point, with just 5 months to go. So, basically, Xiaomi has a long way to go to catch up and reach its target for the year. It looks quite unlikely, but the end of the year can bring big delivery totals, so I wouldn’t write off the possibility completely yet. In the month of July, though, the company achieved 31,267 vehicle deliveries. That’s not providing the boost needed. Multiplying 31,267 by 12 (because there are 12 months in the year), we get 375,204. That is almost 200,000 short of the annual target. None of this is to say Xiaomi is not doing well in the EV sector. Just about two years since it first brought an EV to market, the company is selling hundreds of thousands of vehicles a year. That is a huge achievement. But it’s far below the tech company’s targets, so we’ll have to see if it can adjust in order to reach the heights desired or if it falls back a bit and dampens its goals in the sector. Stay tuned.
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