Xiaomi unveils SkyNomad SUV series, its first hybrid EV line

Xiaomi on Wednesday announced SkyNomad, a new automotive product series focused on extended-range electric vehicles, marking the company's first departure from pure battery-electric cars as it pushes deeper into China's crowded EV market amid mounting pressure on its core smartphone business.

A New Direction for Xiaomi Auto

The SkyNomad brand — known in China as Xiaomi Pengcheng (小米澎程) — will debut with the N90, a full-size SUV measuring over 5.3 meters long with a 3.1-meter wheelbase. Unlike every previous Xiaomi vehicle, the N90 uses a 1.5-liter turbocharged engine solely as a range-extending generator paired with a battery pack exceeding 70 kWh, delivering 400 to 500 kilometers of electric-only range and more than 1,500 kilometers combined.carnewschina+1

Reuters reported on the unveiling Wednesday, while Xiaomi's official global site confirmed July 9 as the announcement date, calling SkyNomad "the second product series under Xiaomi EV brand". The SUV will offer five- and seven-seat layouts with pricing expected to start around 200,000 yuan (approximately $29,400), undercutting rivals like the Li Auto L9 and Huawei's Aito M9. Sunwoda and CALB will supply batteries in a 60/40 split. A market launch is expected in the second half of 2026.electrek+2

Smartphone Business Under Siege

The EV expansion comes as Xiaomi faces severe headwinds in its phone division. According to Nikkei Asia reporting cited by multiple outlets, Xiaomi slashed its 2026 smartphone shipment target from 135 million units to roughly 95 million — a reduction of about 40 million units, or 30% — after a global memory chip shortage driven by insatiable AI infrastructure demand squeezed component supply.ad-hoc-news+2

The memory crunch has hit Xiaomi's bottom line hard. The company reported a 43% first-quarter net-profit decline as memory costs surged. Gartner projected the shortage will reduce global smartphone shipments by 8.4% in 2026 while pushing average prices 13% higher.finance.yahoo+2

Stock Pressures Mount

Xiaomi shares have suffered under the dual weight of smartphone margin compression and heavy EV investment spending. As of mid-June, the stock had fallen 38% year-to-date and hit a 52-week low after Jefferies downgraded it to "Underperform". The company has responded with buyback programs, including a HK$2.5 billion repurchase announced in January, but analysts remain cautious.techbuzz+1

"The current situation is unique in terms of the scale of memory price increases and the duration of the shortage," Gartner analyst Ranjit Atwal told reporters, estimating the market may remain under pressure until the end of 2027.logos-pres