Xiaomi's inaugural electric vehicle has surpassed half a million units delivered.

      Xiaomi's SU7 sedan achieved a milestone of 500,000 cumulative deliveries on 17 August, 28.5 months after the initial handover. However, deliveries of this model have decreased by 43.6% this year, in contrast to the overall growth of nearly 15% for the company.

      The SU7 is Xiaomi’s first car to surpass half a million deliveries, reaching this milestone on 17 August, 28.5 months after the first one was delivered.

      A more intriguing aspect is the declining figures. In the first seven months of 2026, Xiaomi delivered 101,540 SU7s, which is a 43.6% decrease compared to the same timeframe last year.

      This issue appears to be tied to the model itself rather than the company as a whole. Overall, Xiaomi delivered 216,322 vehicles during those seven months, showing an increase of 14.8%, indicating that the sedan is losing market share to other offerings in its lineup.

      The introduction of the YU7 SUV is a factor in this shift. Xiaomi's SUV, positioned to compete with the Tesla Model Y, saw its CEO acknowledge that the first iteration was priced too high, leading to the development of a more affordable version.

      July’s figures reveal both vehicles were delivered within the same month. The SU7 recorded 21,044 deliveries, while the YU7 accounted for 10,223, with the SUV experiencing a 28.6% decline from June’s total of 14,324.

      The ambitious target for the year is noteworthy. Xiaomi has informed the market that it aims to deliver 550,000 vehicles in 2026, and so far this year, it has achieved 39% of that goal.

      The math moving forward is challenging. To meet this target, Xiaomi needs to achieve nearly 67,000 deliveries each month for the remainder of the year, while currently averaging about 31,000.

      This does not indicate a strong finish, but rather a significant shift for the company. Xiaomi has maintained over 30,000 deliveries for four consecutive months, a record it needs to double.

      To bridge this gap, two strategies are being pursued. The new Sky Nomad range includes extended-range models equipped with a petrol engine, targeting family buyers who the SU7 didn’t attract.

      The second strategy involves expanding into Europe, where Xiaomi plans to begin sales in 2027. Chinese brands captured a record 14.2% of the region’s battery electric market in the first half of this year, even in the absence of any Xiaomi models for sale.

      However, none of this indicates that the company is in jeopardy. It has sold half a million units of its first model in less than two and a half years, setting a target that assumes a vastly different performance for the rest of 2026 compared to the beginning of the year.