Xiaomi surges 7% as SkyNomad EV launch event set for July 30

Xiaomi Inc. (01810.HK) shares surged as much as 7.1% to HKD28.66 on Monday after the company announced its SkyNomad range-extended SUV technology launch event for July 30, marking its first expansion beyond battery electric vehicles.

"The SkyNomad launch represents Xiaomi's most significant strategic expansion since entering the EV market, moving beyond pure battery electrics into the range-extender segment where Li Auto and Aito have already built strong recognition," said Kevin Ip, HK equities analyst.

Trading volume reached 126 million shares worth HKD3.53 billion, with short selling accounting for HKD824.1 million or 30.8% of turnover. The stock last traded at HKD28.54, up 6.8%.

The event will unveil the Kunlun technology architecture — comprising the Kunlun platform, Kunlun super range extender and Kunlun all-domain safety — alongside the flagship seven-seat N90 Max and large five-seat N70 Max SUVs. Xiaomi founder Lei Jun has described SkyNomad as a "living space" with interiors that can switch between a studio, cafe, lounge and playground when parked.

The N90 Max measures 5,285 millimeters in length with a 3,080-millimeter wheelbase, using a dual-motor setup rated at 210 kilowatts and 100 kilowatts paired with a CALB ternary lithium battery. The N70 series measures 4,960 millimeters with a 2,950-millimeter wheelbase across five-seat configurations. Both use a 1.5-liter range extender engine from Harbin Dongan Automotive Engine with maximum net power of 112 kilowatts.

Maximum battery capacity is 76 kilowatt-hours, delivering up to 505 kilometers of all-electric range under China's CLTC standard and 380 kilometers under WLTC. Minimum fuel consumption with a depleted battery is 5.7 liters per 100 kilometers.

Xiaomi has conducted 626 days of testing across two winters and two summers, deploying 566 test vehicles covering 4.28 million kilometers of real-world driving to reduce reliability risks in its first range-extended models.

The SkyNomad series is central to Xiaomi's 2026 expansion plans. The company has set a full-year delivery target of 550,000 vehicles, up about 34% from roughly 410,000 in 2025. Xiaomi EV delivered 185,055 vehicles in the first half, or about 34% of its annual target, requiring average monthly deliveries of about 60,000 in the second half — far above current levels.

The N90 is expected to appear at the Chengdu Auto Show opening Aug. 21, marking the series' first major auto show appearance.

This article is for informational purposes only and does not constitute investment advice.