Xiaomi's car unit delivers 104,199 vehicles in Q2 but stays loss-making

Xiaomi delivered 104,199 cars in April to June 2026, up 28.2% year on year. Revenue in its EV, AI and new initiatives segment rose 17.1%, most of it from cars. The segment posted an operating loss for the second quarter in a row, though a smaller one than in Q1. Gross profit fell to 19.2% of revenue from 26.4% a year earlier, and the average selling price dropped 9.6%.

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