Xiaomi Group releases Q1 2026 earnings report Automotive business revenue of 19 billion yuan

On May 26, Xiaomi Group released its Q1 2026 earnings report. The report shows that Xiaomi's various businesses made steady progress in the quarter, with a total revenue of 99.1 billion yuan and automobile business revenue of 19 billion yuan. Specifically, in the current quarter, Xiaomi's smartphone business revenue was 44.3 billion yuan, its IoT and consumer products business revenue was 24.7 billion yuan, and its Internet service business revenue was 9.5 billion yuan. The revenue of innovative business segments such as smart electric vehicles and AI was 19.9 billion yuan, an increase of 6.9% year-on-year. Among them, the revenue of smart electric vehicles was RMB 19 billion, accounting for 19.2% of the total revenue. During the period, Xiaomi Motor delivered 80,856 new vehicles, an increase of 6.6% year-on-year. As of April 23, 2026, the cumulative delivery of Xiaomi Motor exceeded 655,000 units. At the same time, as of March 31, 2026, Xiaomi Motor has opened 490 auto sales stores in 143 cities in mainland China. During the Q1 period of Xiaomi SU7, Xiaomi invested a total of 9 billion yuan in R&D. In terms of automobiles, Xiaomi continues to enhance its assisted driving capabilities. In March this year, the Xiaomi XLA cognitive large model architecture was officially released, marking the move of Xiaomi's assisted driving technology route from "perception and imitation" to "understanding and reasoning". In May this year, on the basis of Xiaomi XLA, Xiaomi upgraded and released Xiaomi OneVL, taking the lead in achieving the unification of multiple technical routes such as VLA, world model, and latent space inference in the industry. Xiaomi YU7 GT At the same time, the high-end potential of Xiaomi's automobile business continues to climb. On May 21, the Xiaomi YU7 family ushered in an update, launching two models, the YU7 standard version and the YU7 GT. Among them, the YU7 GT set a new SUV lap record in 7 minutes, 22 seconds and 755 seconds, and reached the top of the fastest SUV in the history of New North. At the same time, the global layout of Xiaomi SU7 Ultra prototype vehicles has steadily advanced, and the European R&D center of Xiaomi Automobile has been officially established, laying the foundation for Xiaomi Automobile to continue to explore the global market.