Xiaomi shares jumped 8.95% on Wednesday to close at 31.88 Hong Kong dollars, adding 2.62 Hong Kong dollars as investors positioned ahead of the Chinese technology company's launch event for two new sport utility vehicle models scheduled for Thursday. The rally builds on gains from earlier in the week, with Xiaomi shares having already climbed as much as 7.7% on Monday to reach their highest level since June 3. The company confirmed that its Pengcheng launch event will take place Thursday, featuring the debut of two new SUV models, the N90 and N70, marking Xiaomi's latest push to expand its rapidly growing electric vehicle business beyond its origins as a smartphone and consumer electronics maker.
According to Gourav Sinha, Senior Retail Marketing Manager at Xiaomi India, AI has transformed the company's approach to marketing across India's linguistic diversity. Launching products across markets such as Bengal, Bihar and the North East once required multiple production shoots, significant investments and lengthy timelines. Today, Xiaomi uses AI-generated videos to create local-language content in just a few hours and at a fraction of the traditional production cost. The company's most effective application has been retailer advocacy, using existing photographs, voice samples and previous video footage to generate new content tailored to different languages and markets, resulting in faster production, greater localisation and more confident on-screen representation for retailers.
According to reports from NDTV Profit, Xiaomi is set to broaden its India strategy beyond smartphones by expanding aggressively into home appliances and smart home devices over the next year. The company is looking to strengthen its presence in one of its most important global markets through this strategic diversification. This expansion strategy reflects Xiaomi's ambition to become a broader consumer technology brand rather than remaining focused solely on smartphones, with the company planning to strengthen its 'Human-Car-Home' ecosystem by introducing new products across the home category in the coming months.
The company's electric vehicle segment has shown strong momentum, with Xiaomi reporting its third consecutive month of surpassing 30,000 monthly vehicle deliveries in June, according to data cited by Citi. Cumulative shipments from January through June totaled more than 180,000 units, representing approximately 33% of Xiaomi's full-year 2026 delivery target of 550,000 vehicles. The upcoming N90 and N70 SUVs represent the company's latest step toward becoming a more diversified automaker alongside established Chinese electric vehicle players, with Citi analysts suggesting the stock could see further gains tied specifically to the rollout of these new models.
As reported by NDTV Profit, Xiaomi has achieved significant milestones in the Indian market since its entry 12 years ago. The company has sold more than 250 million smartphones and over 100 million AIoT devices in India during this period. According to Sudhin Mathur, Chief Operating Officer (COO) of Xiaomi India, these figures demonstrate the company's substantial market penetration and customer base in the region. Xiaomi's broader business results have shown substantial growth over the past year, with full-year 2025 revenue climbing 25% to 457.3 billion yuan and net income rising 76% to 41.6 billion yuan, pushing the company's profit margin up to 9.1% from 6.5% a year earlier.
