China's NEV passenger vehicle sales for May 2026 are in. BYD leads with 321,000 units, followed by Geely at 96,000 and Changan at 65,000. Leapmotor delivered 57,000 units, surpassing Tesla (55,000) for the first time. Li Auto (39,000), Chery (34,000), XPeng (26,000), NIO (20,500), and Xiaomi (19,000) form the mid-tier cluster.
Xiaomi Group's Q1 2026 financial report shows its auto business achieved an average selling price of 235,000 yuan with quarterly deliveries of 81,000 units. CFO Alain Lam addressed losses, citing massive upfront investments and not-yet-realized scale effects. Auto business gross margin reached 5.4%, improving from the previous year. Cumulative R&D investment exceeds 12 billion yuan, with Beijing factory capacity ramping toward an annual target of 300,000 units.
Xiaomi Group reported Q1 2026 revenue of RMB 99.1 billion, with 80,856 EV deliveries. The YU7 GT set a Nürburgring SUV lap record of 7:22.755, priced at RMB 389,900. The SU7 and YU7 series now lead the premium EV market above RMB 200,000.
Filing information for the new Xiaomi YU7 has been officially announced, featuring a 73.0kWh LFP battery and an estimated range exceeding 700km. As Xiaomi's second production model, it is expected to launch in June with a starting price potentially under 250,000 yuan.
April 2026 EV delivery data shows NEV market penetration has exceeded 60%. Leapmotor leads with a record 71,387 units, Xiaomi maintains a volume above 30,000, and brands like Arcfox and Voyah show significant year-over-year growth.
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