Xiaomi Shares Surge 7.6% as SkyNomad EV Orders Hit 70,000

Xiaomi Corp shares surged on Friday after the Chinese technology giant reported strong demand for its newly introduced SkyNomad electric vehicle lineup, highlighting growing momentum in its automotive business despite intense competition in China's EV market.

Xiaomi stock climbed 7.6% to HK$25.46 in Hong Kong trading, making it one of the top performers on the Hang Seng Index, which gained 1.3% during the session. The rally followed encouraging sales figures that strengthened investor confidence in the company's expanding electric vehicle operations.

According to a social media announcement from Xiaomi, its newly launched SkyNomad N90 and SkyNomad N70 models secured a combined 70,000 orders during their first month on the market. The strong initial response suggests considerable consumer interest in the company's latest automotive offerings.

Xiaomi also reported delivering more than 10,000 SkyNomad vehicles in September, contributing to total monthly vehicle deliveries exceeding 40,000 units. The figure marked the company's strongest monthly delivery performance so far in 2026, reflecting continued growth in its automotive division.

The latest results represent another important milestone for Xiaomi as it seeks to establish a stronger position in China's rapidly evolving electric vehicle industry. The SkyNomad series expands the company's existing portfolio, which includes the SU7 electric sedan and YU7 electric SUV.

Unlike Xiaomi's earlier battery-electric vehicles, the SkyNomad models incorporate an internal combustion engine to extend driving range. This approach offers consumers an alternative to fully electric vehicles, potentially attracting buyers concerned about charging availability and long-distance travel.

The introduction of extended-range technology could also help Xiaomi reach a broader customer base as Chinese automakers compete through pricing, vehicle technology, driving range, and product innovation.

China's highly competitive automotive market has pushed manufacturers to diversify their offerings and introduce new technologies to maintain consumer interest. Xiaomi's latest delivery figures indicate that its expanding product strategy is gaining traction among buyers.

For investors, the combination of strong SkyNomad orders, record monthly deliveries, and rising Xiaomi shares signals improving confidence in the company's automotive growth prospects.

However, sustained success will depend on Xiaomi's ability to convert initial orders into completed deliveries while maintaining competitiveness in China's crowded electric vehicle market.