Buying a car, turning into a house? At a technical conference of Xiaomi, Xiaomi Pengcheng directly played out the feeling of "real estate" by "building a car" - taking out 18 kinds of indoor maps and turning the car into "looking at the house and choosing the house". 2.9 meters of flat floor can play billiards, and the trunk turned into a mobile cafe; the tent was directly upgraded to "two rooms and one hall". The price is also a heavy punch, and the pre-sale of 259,900 yuan of N70 Max is unexpected, while the pre-sale of 299,900 yuan of N90 Max makes many netizens call "much cheaper than expected". According to Xiaomi's consistent approach, the final listing price will be further explored. In the past two and a half years, Xiaomi has delivered more than 700,000 vehicles by SU7 and YU7. Now, with the N90 and N70, is it a continuation of the myth or an adventure? 1. Why is Xiaomi Pengcheng important? To understand Pengcheng, we must first understand the product logic of Xiaomi. In December 2023, Xiaomi released the first vehicle platform Modena architecture, from which SU7 and YU7 were born. Lei Jun's position on these two cars is extremely clear - the "driver's car", which focuses on youth, performance and control, and is essentially made for people who like to drive. But the biggest car scenario in China has never been a track. It is a high-speed traffic jam, a weekend outing, and the Spring Festival is home for the whole family. The family of three brought both parents, that is, seven people - such a demand, SU7 and YU7 can not stand up, the 9 series SUV on the market also failed to fully cover. As a result, Xiaomi launched a second vehicle platform, Kunlun Technology Architecture, designed for large spaces, extended range power, and family travel. At the heart of this platform is a breakthrough: plain flooring. Lei Jun said that it is not difficult for MPVs to achieve a flat floor, but it is done on extended-range SUVs, and the market is currently one of the few. Xiaomi's idea is not a late-stage transformation, but from the first day of development, it pushes back the chassis layout from space needs. To make an analogy, it is equivalent to buying a "one bedroom" house. By re-planning the space layout, the walls and pipelines have been completely redesigned, and finally the effect of "two bedrooms and one living room" has been achieved. If SU7 proves that Xiaomi can build cars and YU7 proves that the platform can be copied, then the Kunlun architecture means that Xiaomi began to move from a single explosive model to a systematic layout. Targeted sales of 550,000 Xiaomi vehicles this year, but cumulative deliveries in the first half of the year were 185,000. Even if SU7 and YU7 complete 350,000 to 400,000 vehicles in a year, there is still a gap of 150,000 to 200,000 vehicles. And to fill this gap, it was up to Peng Cheng. It's not enough to just grab a friend's order, the only way out is to break the circle. Breaking the loop was exactly what Xiaomi was best at. 2. Breaking loops with 18 types of household diagrams? After the floor is flattened, the imagination space inside the car is completely opened. The Xiaomi Kunlun platform can arrange up to 6 rails, and the maximum length is close to 2 meters. Not only can the rails move the seats, but they can also power up, hover, and access ecological products such as islands, table boards, screens, and storage units. Lei Jun called the car a "movable house", and even presented 18 kinds of indoor maps at the conference. Two seats in the front row, rotatable backwards, face-to-face with passengers in the second row. Two rows of zero gravity seats on one side, and a small desk board on the other side to form a complete mobile desk. At the same time as the car is full of 7 big men, the trunk can also be packed into 7 20-inch boarding cases. Previously, the ideal Mega, Krypton 9X, M9 and other models also mass-produced rotary seats, but they were limited to the second row. The only one that could do the front row rotation was the Krypton mix, but the mix was replaced by the large opening and the cancellation of the B column, and the size was close to the MPV. Xiaomi is doing this in the form of a standard SUV, which is indeed the only game on the market at the moment. We know that Xiaomi has a hidden trick - when the roof is raised, the whole car can be transformed into an "upper and lower bunk", which can be called a "RV with an SUV shell", and it is estimated that it will be left for the follow-up conference. It's not just a gimmick. This year, the topic of "new energy vehicles impacting the summer tourism industry" is very hot. In addition to more rational consumption, the popularity of new energy vehicles is completely restructuring the way Chinese people travel. Rather than flying out to stay at a hotel, it is better to drive out to sleep in a car. A car is a mobile home, saving money and being free. Self-driving camping, long-distance stays, holiday tugs - the N90 Max answers all these scenarios with one car. 3. Pengcheng enters the survival and strangulation battle? After talking about the product, let's talk about a more serious problem - Xiaomi chooses to enter the expansion at this point in time. Is it a strong needle or a piece of the endgame? The data is put out first: since mid-2025, the sales volume has not gone up, and the overall decline in the first half of 2026 is 17% year-on-year. There is no longer a single extended-range model in the top 10 of the June AutoHome sales list. In the past, the "King of Extended Range" was ideal, and only one pure electric product, the i6, was on the list. Could it be that Xiaomi is going in the wrong direction? My judgment is that the Zengcheng market is differentiating, not disappearing. The previous generation of range-extension vehicles generally have short battery life and frequent refueling and charging of users, which is a discount on the experience. Nowadays, the industry has quietly changed its approach - "large battery + small fuel tank" has become the mainstream solution, superimposed with 800V high-voltage platform and 5C supercharging, extending the range is no longer a technical compromise, but a pocket insurance for pure electric experience. Especially for large-size SUVs such as the N90 Max, the range extension is often a more realistic choice than pure electricity without adopting the power change mode. Xiaomi Pengcheng is a concentrated embodiment of this logic. The N70 Max is equipped with a 76-degree battery pack, with a pure battery life of 505 km, which is also the level of the first echelon of pure battery life in the current extended range models - daily pure electric commuting, long-distance extension, neither end will be done. However, Peng Cheng also had his own limitations. Why the Pengcheng series is only an extended range version for the time being, Lei Jun has also responded on social media: If this kind of large-space SUV adopts a pure-circuit route, it needs to be equipped with an oversized battery. Not only does the cost increase, but also the weight increase will in turn affect the battery life. Therefore, at this stage, Pengcheng chooses the range extension plan based on product positioning and engineering trade-offs. Competition in the market is equally brutal, with fewer than 20 extended-range models sold in 2024, and 54 new extended-range vehicles expected to hit the market in 2026. Xiaomi faced not a blue ocean, but an increasingly crowded red sea. Can the Pengcheng N90 and N70, the "Variety SUV", kill a bloody road in this competition? Summary: The real meaning of Xiaomi Pengcheng may not be to save the Extended Journey market. It is more like completing the last piece of the puzzle in the Xiaomi car layout. SU7 and YU7 are for people who like to drive. N90 and N70, for those who love life. When the two product lines of performance and home are launched at the same time, Xiaomi cars are really jogging from the small to the high-speed running stage. And all of this is ultimately for Lei Jun's long-term goal: to enter the top five in the global automotive industry in 15 to 20 years. Do you think Xiaomi Pengcheng can replicate the success of SU7 and YU7? (By/Automobile House Peng Fei).