Nurburgring performance of the SU7 Ultra
The Xiaomi SU7 Ultra production version clocked a 7:04.957 minute lap on the 20.832 kilometer Nordschleife. This time beat the Porsche 718 Cayman GT4 RS, which ran the same track in 7:09.300 minutes. The SU7 Ultra includes a Track Professional Package with adjustable coilovers, carbon aerodynamic components, and a six-point harness. This vehicle produces 1140kW of output. A prototype version of the SU7 Ultra previously completed a lap in 6:22.09, which beat the 6:29.09 time set by the Mercedes-AMG One.
Financial results for the first quarter of 2026
Xiaomi’s Smart Electric Vehicle and AI Innovation segment generated 19.9 billion yuan ($2.9 billion) in revenue during the first quarter of 2026. This division reported an operating loss of 3.1 billion yuan ($457 million) during the same period. The company delivered 80,856 vehicles in the first quarter, an increase from 75,869 units in the first quarter of 2025. This delivery volume resulted in a loss of roughly $5,600 per vehicle sold. This figure shows a deterioration compared to the estimated $900 loss per vehicle in the first quarter of 2025. The gross margin for the division stood at 20.1 percent in the first quarter of 2026, whereas it was 23.2 percent in the first quarter of 2025. During the first quarter of 2026, 19.0 billion yuan of the 19.9 billion yuan revenue came from EV sales, while 0.9 billion yuan came from after-sales services and other sources.
Monthly delivery trends and annual targets
Xiaomi delivered 246,475 vehicles through August 2026. This total represents 44.8% of the 550,000 unit annual target. The company must sell 303,525 units between September and December to reach its 550,000 annual goal, which implies an average of approximately 75,900 deliveries per month to hit the target. The highest monthly total for the existing two-model lineup reached 50,212 units in December 2025. August 2026 deliveries totaled 30,153 units, which fell 17.2% year-on-year from the 36,396 units sold in August 2025. July 2026 saw 31,267 deliveries, while June 2026 deliveries reached 34,738 units. In May 2026, the company delivered 32,759 vehicles, and April 2026 saw 36,702 units. Will the Sky Nomad series provide the volume necessary to reach the 550,000 unit target?
Product mix and declining average selling prices
Revenue growth lagged delivery growth in the second quarter of 2026. EV revenue reached 23.9 billion yuan ($3.56 billion), a 15.9% increase from the previous year. However, the average selling price per vehicle fell to 229,312 yuan ($34,200), representing a 9.6% decrease from the previous year. This decline happened because the higher-priced SU7 Ultra accounted for a smaller share of the vehicle mix. Gross margin for the Smart EV, AI and Other New Initiatives segment fell to 19.2% from 26.4% in the previous year. You already know that Xiaomi entered the market with high expectations.
Sky Nomad expansion and pricing
Xiaomi launched the Sky Nomad extended-range electric vehicle series on July 30. The N90 Max 7-seat model has a pre-sales price of 299,900 yuan ($44,180). The N70 Max 5-seat model costs 259,900 yuan. The N70 Pro 5-seat model costs 209,900 yuan ($31,300). The N70 Max AWD model costs 239,900 yuan ($35,700). These models use a 1.5-litre turbocharged range extender called the Kunlun. The N90 Max flagship claims a 1,705 km combined CLTC range. Pre-orders for the series reached 100,000 units.
Model specifications and price comparison
| Model | Segment | Starting Price (Yuan) | Starting Price (USD) | Key Feature |
|---|---|---|---|---|
| SU7 | Sedan | 215,000 | $30,000 | Basic Model |
| YU7 | SUV | 233,500 | $34,440 | Base Model |
| YU7 GT | SUV | 389,900 | N/A | High-performance |
| N90 Max | EREV | 299,900 | $44,180 | 7-seat Flagship |
| N70 Max | EREV | 259,900 | N/A | 5-seat |
| N70 Pro | EREV | 209,900 | $31,300 | 5-seat |
| N70 Max AWD | EREV | 239,900 | $35,700 | 5-seat AWD |
Quality concerns and legal challenges
The Xiaomi SU7 quality ranking remains the worst in its segment. The vehicle received 239 penalty points in the 2025 Q1 China Automobile Quality Ranking for large battery electric sedans. This score sits 56 points above the segment average. More than 400 SU7 Ultra owners are suing the company regarding an optional carbon fiber front hood priced at RMB 42,000. Owners claim the dual air ducts on the hood do not provide the advertised aerodynamic and cooling benefits. Thermal imaging results and air blower tests by owners showed no significant airflow or cooling. Xiaomi issued an apology on May 7 and offered customers 20,000 loyalty points or a replacement with a standard aluminum hood.
Sales infrastructure and market verdict
Xiaomi operates 490 EV sales outlets across 143 cities in China. The company intends to launch in Europe after signing a memorandum of understanding with eight German automotive dealer groups at IFA Berlin 2026. Overseas sales remain unavailable until the second half of 2027. Xiaomi can sell cars, but it cannot yet make them profitably.
