Xiaomi is raising its delivery target for electric vehicles (EVs) to 550,000 units in 2026 as the tech giant seeks to expand its revenue base, reports Caixin. The target, announced by founder Lei Jun is up 34% from last year’s sales of 410,000 cars.
The goal shows Xiaomi’s confidence in the continued expansion of its EV business despite fierce competition and public concerns over the safety of its assisted driving technology, which were triggered by a recent fatal crash involving a Xiaomi sedan that had its autopilot system engaged.
Known primarily for its smartphones and consumer electronics, Xiaomi announced its foray into the EV sector in 2021 with an initial $10 billion investment and has quickly become one of China’s fastest-growing EV brands.