Xiaomi Group released its financial results for the first quarter of 2026 today. The company’s smart electric vehicle (EV) and AI innovation segment generated 19.9 billion yuan (2.9 billion USD) in revenue and an operating loss of 3.1 billion yuan (457 million USD). It sold a total of 80,856 vehicles in the first quarter, which means it lost 5,600 USD for every car sold. In the first quarter of last year, it lost 900 USD per vehicle sold.
During the first quarter, Xiaomi delivered 80,856 new vehicles, marking a 6.6% year-on-year increase compared to the 75,869 units delivered in the same period of 2025. Revenue specifically from smart electric vehicles reached 19.0 billion yuan (2.8 billion USD), with an average selling price (ASP) of approximately 235,000 yuan (34,600 USD) per vehicle.
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