# Xiaomi EV expansion and financial performance > Live situation record from CLSTR: https://clstr.news/situations/xiaomi-ev-expansion-and-financial-performance > Updated: 2026-08-25T04:40:01.000Z. Sources: 27. Developments: 4. Xiaomi is navigating a period of significant focus on its electric vehicle (EV) expansion and financial performance. In July, the company delivered 31,267 vehicles, representing a nearly 10% decline from June and a 2.68% year-on-year increase. This brings its cumulative deliveries for the first seven months to 216,322, which is approximately 39% of its annual target of 550,000 units. Meeting annual goals may depend on the performance of the new Sky Nomad product line in the extended-range electric vehicle segment. In its second-quarter 2026 financial results, Xiaomi reported total revenue of 108.9 billion RMB, a 9.9 percent increase over the previous quarter. While adjusted net profit was 6.2 billion RMB, some reports indicate that net profit for the first half of 2026 fell by 37.6% year-on-year due to rising component costs, specifically DRAM and NAND chips. To counter these pressures, the company is pursuing a ‘premiumization’ strategy, increasing its average selling price to 1,351 yuan to compete with high-end brands. Recent developments show Xiaomi is also moving toward greater vertical integration, announcing the start of mass production for internally developed smartphone processors produced in collaboration with TSMC to mitigate supply chain and geopolitical risks. While smartphone shipments saw a decline of 26.5% to 31.2 million units, the company saw regional success in Vietnam, securing a 21% market share with 34% year-on-year growth. Additionally, the electric vehicle and new initiatives segment grew 17.1% year-on-year to 24.9 billion yuan, with the smart vehicle business accounting for 23.9 billion yuan of that total. ## Claims - The average selling price (ASP) for Xiaomi smartphones rose 25.9% to 1,351 yuan. (disputed by 6 sources) - The global average selling price (ASP) for smartphones rose 25.9% year-over-year to a record 1,351 RMB. (disputed by 5 sources) - Xiaomi delivered 104,199 electric vehicles in Q2 2026. (disputed by 2 sources) - Xiaomi delivered 104,200 smart EVs in the Q2 period, up 28.2%. (disputed) - Xiaomi shipped 31.2 million smartphones in Q2 2026. (corroborated by 10 sources) - Adjusted net profit for the quarter was 6.2 billion RMB. (corroborated by 9 sources) - Rising costs for memory and other key components impacted profit margins. (corroborated by 8 sources) - Xiaomi reported Q2 2026 revenue of 108.9 billion RMB. (corroborated by 7 sources) - Xiaomi has ranked among the top three global smartphone manufacturers for 24 consecutive quarters. (corroborated by 5 sources) - Smart EV revenue reached 23.9 billion yuan, a 15.9% increase year-on-year. (corroborated by 4 sources) - The Smart EV, AI, and New Initiatives segment reported an operating loss of 2.6 billion yuan. (corroborated by 2 sources) ## Timeline ### 2026-08-25: Xiaomi begins mass production of in-house smartphone chips Xiaomi has begun mass production of its own smartphone chips with TSMC while reporting a 9.9% revenue increase driven by smartphones, AIoT, and growing electric vehicle sales. 5 sources. https://clstr.news/cluster/xiaomi-begins-mass-production-of-in-house-smartphone-chips ### 2026-08-25: Xiaomi reports mixed Q2 2026 results amid regional growth and global competition Xiaomi shows strong growth in Vietnam with a 21% smartphone market share, even as it faces global profit declines and rising component costs, prompting a shift toward premium product segments. 3 sources. https://clstr.news/cluster/xiaomi-reports-mixed-q2-2026-results-amid-regional-growth-and-global-competition ### 2026-08-18: Xiaomi reports Q2 2026 revenue of 108.9 billion RMB amid EV growth Xiaomi's Q2 2026 results show 108.9 billion RMB in revenue and 6.2 billion RMB in adjusted net profit. While smartphone shipments fell, record average selling prices and surging EV sales drove growth. 17 sources. https://clstr.news/cluster/xiaomi-q2-earnings-report-to-influence-stock-rally-and-ev-outlook ### 2026-08-12: Xiaomi EV delivers 31,267 units in July, reaching 39% of annual target Xiaomi EV delivered 31,267 vehicles in July, reaching 39% of its 550,000-unit annual target. The company needs roughly 67,000 monthly deliveries through year-end to meet its goal. 2 sources. https://clstr.news/cluster/xiaomi-ev-delivers-31267-units-in-july-reaching-39-of-annual-target --- Cite as: Xiaomi EV expansion and financial performance. CLSTR, https://clstr.news/situations/xiaomi-ev-expansion-and-financial-performance