BUSINESS

Xiaomi Unveils New Extended-Range EVs Amid Cooling Market

Published: Jul. 31, 2026 11:32 p.m. GMT+8

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A SkyNomad model is on display at a Xiaomi store in Dongguan, Guangdong province, on July 30, 2026. Photo: VCG

China’s Xiaomi Corp. unveiled two new extended-range hybrid vehicles on Thursday, pushing into a shrinking segment of the world’s largest auto market.

The SUV series dubbed SkyNomad, scheduled for official release in September with pre-sale prices starting at roughly 259,900 yuan ($38,389), features large batteries designed to allow a week of pure-electric commuting with an internal combustion engine as a backup.

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Xiaomi unveiled SkyNomad SUVs, pre-sale from 259,900 yuan, launching September.
Hybrid sales fell 19.4% year-on-year in first half of 2026; six-year inventory overcapacity.
Xiaomi EV division posted 3.1 billion yuan operating loss in Q1 2026.

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Who’s Who

Xiaomi Corporation: Xiaomi Corp. launched the SkyNomad extended-range hybrid SUV (pre-sale ~259,900 yuan, September release). It features a 505 km battery range to attract buyers in a declining hybrid market (sales down 19.4% YoY). The launch occurs amid industry overcapacity and Xiaomi’s EV division posting a 3.1 billion yuan Q1 2026 loss. The company also stressed safety after a fatal crash.

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What Happened When

Early 2023：: Xiaomi began developing the SkyNomad line during a boom period for extended-range electric vehicles led by domestic rival Li Auto.

First six months of 2026：: Domestic retail sales of extended-range vehicles tumbled 19.4% year-on-year, nearly triple the decline seen in pure electric cars.

First quarter of 2026：: Xiaomi's smart electric vehicle business swung to a 3.1 billion yuan operating loss, exacerbated by sliding demand for its older YU7 model.

Earlier in 2026：: A highly publicized fatal crash and fire involving one of Xiaomi's vehicles occurred.

Thursday, July 31, 2026：: Xiaomi unveiled the SkyNomad SUV series, with pre-sale prices starting at roughly 259,900 yuan ($38,389). CEO Lei Jun emphasized vehicles are optimized for electric-only daily driving.

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