Xiaomi shares moved higher on Monday after the Chinese technology giant confirmed it will unveil an updated version of its SU7 electric sedan later this week. The announcement boosted investor sentiment as the company continues to expand its presence in the fast-growing electric vehicle market.
Xiaomi Corp stock climbed more than 5% to HK$35.16, making it one of the largest contributors to gains in the Hang Seng Index, which rose by over 1% during the trading session.
The company announced that the next-generation SU7 electric sedan will be officially launched on March 19. The release comes shortly after Xiaomi CEO Lei Jun indicated that the launch schedule for the vehicle had been moved forward.
Alongside the updated SU7 electric car, Xiaomi is also expected to introduce two new flagship products during its March 19 event, further expanding its product lineup.
The upgraded SU7 electric vehicle will feature improvements in battery performance, safety systems, and hardware technology. The model plays a key role in Xiaomi’s ambitious strategy to sell at least 550,000 electric vehicles by 2026.
Xiaomi made a strong entry into the electric vehicle industry with the launch of the first-generation SU7 in 2024. The company later expanded its EV lineup with the YU7 electric crossover, which achieved solid sales following its release in 2025.
However, competition in China’s electric vehicle market remains intense. The country is the world’s largest EV market, and domestic manufacturers are frequently offering aggressive price discounts in an effort to gain market share.
Despite its strong product launches, Xiaomi reported that its EV sales declined nearly 14% year-over-year in February, highlighting the challenges posed by the highly competitive landscape.
