Xiaomi Wins Regulatory Nod for Range-Extender SUVs as Stock Sinks to New Lows
13.06.2026 - 13:05:10 | boerse-global.de
Chinese regulators handed Xiaomi a crucial approval on June 11, clearing the way for the tech giant to build extended-range electric vehicles (EREVs) under a new sub-brand called Skynomad. The move marks a sharp departure from the company’s previous all-electric-only strategy and comes as its stock tumbles to a 52-week low of €2.82.
Skynomad’s first model, internally codenamed Kunlun N3, is a large family SUV slated to launch in the second half of 2026. With a battery pack exceeding 70 kilowatt-hours, the vehicle will offer a pure-electric range of up to 500 kilometres. A small combustion engine will act as a generator to charge the battery on the go, addressing the range anxiety that still holds back many buyers. Xiaomi is targeting rivals like Li Auto’s L9 by underpricing the Kunlun N3 by roughly 200,000 yuan.
The strategic pivot is driven by ambitious volume targets. Xiaomi aims to deliver 550,000 vehicles in 2026, but deliveries from January through May totalled barely 150,000 units. Monthly sales actually shrank in May compared with April, and year-to-date growth slowed to just 13.5 percent. Without a hit model in the fast-growing family-SUV segment, the company risks missing its goals.
Should investors sell immediately? Or is it worth buying Xiaomi?
Investors have already delivered their verdict. Xiaomi’s stock closed Friday at €2.89, extending a rout that has erased more than 35 percent of its value since the start of the year. Technical indicators now flash deeply oversold, though the share price remains well below its long-term average. The market’s attention is fixed squarely on the auto division, even as Xiaomi separately launched a new AI programming assistant.
The approval from China’s Ministry of Industry and Information Technology is not yet final. A public comment period runs until June 17, after which Xiaomi is expected to receive the formal go-ahead for production. Success in the hyper-competitive Chinese car market will depend on whether the company can prove it can win over families as well as tech enthusiasts. A flawless launch for the Kunlun N3 is now essential to halt the stock’s slide and restore confidence.
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