Produced by Leida Finance | Authored by Ding Yu | Edited by Meng Shuai

On the evening of September 8, a Xiaomi Pengcheng vehicle deviated onto a greenbelt while making a turn at an intersection. Related videos quickly spread across social media, igniting heated discussions.

The following day, September 9, the 'Xiaomi Debunking Rumors' account issued an urgent statement, clarifying that the incident occurred when a test drive customer, yielding to a vehicle ahead during a turn, mistakenly pressed the accelerator instead of the brake due to nervousness, causing the vehicle to leave the roadway. Fortunately, no injuries were reported.

Just two days prior, at Xiaomi's autumn flagship product launch event, the much-anticipated Xiaomi Pengcheng series extended-range SUVs were officially unveiled, with starting prices for the four models ranging from RMB 209,900 to RMB 299,900.

It is noteworthy that the Pengcheng series marks Xiaomi's inaugural venture into the extended-range SUV market, with the N70 Pro, the most affordable among the four models, becoming Xiaomi's least expensive vehicle to date. Shortly after its official launch, the Pengcheng series garnered over 10,000 locked-in orders in just four minutes.

According to data from the China Passenger Car Association, Xiaomi's monthly sales in August reached 30,153 units, the lowest level since April this year. For the first eight months of the year, cumulative sales stood at 246,000 units, less than half of the annual sales target of 550,000 units.

However, some analysts believe that with the launch of the new Pengcheng series, Xiaomi still has a chance to achieve its annual sales target.

Pengcheng's 'First Crash' Just a Day After Launch? Customer Accidentally Presses Accelerator During Test Drive, Deviating onto Greenbelt

On the evening of September 7, Xiaomi's autumn flagship product launch event took place in Beijing, where Lei Jun introduced four new models: the Pengcheng series N70 Pro, N70 Max, N90 Max, and the all-new N90 Max Explorer Edition, priced between RMB 209,900 and RMB 299,900.

However, just one day after the official launch, on September 8, a video of a Pengcheng test drive vehicle deviating onto a greenbelt went viral online.

Witnesses reported seeing a Xiaomi Pengcheng vehicle leave the roadway and drive onto a greenbelt while making a turn at an intersection.

According to Phoenix Technology, another 'dashcam video' capturing the scene showed the vehicle, after encountering a vehicle ahead during a turn, driving directly onto the sidewalk and greenbelt before coming to a stop, without causing any pedestrian injuries.

Following the video's online dissemination, the topic 'Xiaomi Pengcheng's First Crash' quickly trended on Weibo, sparking widespread discussion among netizens.

In the early hours of September 9, the 'Xiaomi Debunking Rumors' Weibo account issued an urgent response: 'On the evening of September 8, during a test drive, a customer, yielding to a vehicle ahead at an intersection, mistakenly pressed the accelerator instead of the brake due to nervousness, causing the vehicle to leave the roadway. No injuries occurred during this incident. Please be informed and rest assured.'

Leida Finance noted that the 'Xiaomi Debunking Rumors' account was launched on June 30 under the guidance of the Central Cyberspace Affairs Commission's Office for Reporting Illegal and Negative Information.

The account serves as a platform for the public to verify and access Xiaomi's debunking statements and report rumors related to Xiaomi. Xiaomi also engages with various stakeholders through this account and uses legal means to protect its legitimate business reputation.

Shortly after its launch, the 'Xiaomi Debunking Rumors' account became deeply involved in debunking rumors related to the Xiaomi Pengcheng series.

In July this year, when Xiaomi's new 'SkyNomad Pengcheng' series was being promoted but had not yet officially launched, some users searching for 'SkyNomad' on multiple platforms encountered keywords such as 'cause of fire' and 'accident details.'

On some platforms, even 'car crash videos' of the Xiaomi Pengcheng appeared, with posters jokingly claiming, 'My new Xiaomi SkyNomad is on the greenbelt again,' though the videos bore obvious AI-generated watermarks. Currently, some of these videos are no longer accessible.

In response, 'Xiaomi Debunking Rumors' repeatedly reposted reports and statements from the Beijing Daily and the 'Xiaomi Company Spokesperson' accounts in July and August, countering AI-generated rumors about the Pengcheng series.

Pengcheng Surpasses 10,000 Orders in 4 Minutes: Xiaomi Makes Its Debut in the Extended-Range Market

As Xiaomi's first extended-range SUV product line, the Pengcheng series holds high hopes for the company, with Lei Jun even changing his social media profile picture to one of himself sitting in a rooftop tent on a Xiaomi Pengcheng vehicle.

Tianyancha data shows that since 2022, Xiaomi has applied to register numerous trademarks for 'Pengcheng' and 'SKYNOMAD.'

In March this year, Xiaomi officially filed for the 'Pengcheng' automobile trademark, which entered the preliminary approval stage. By May, low-camouflage road test spy photos of the vehicle were already widely circulated online.

On July 7, Xiaomi Automobile registered official WeChat and video accounts named 'Xiaomi Pengcheng,' with the profile picture displaying 'SkyNomad Xiaomi Pengcheng.'

One day later, Xiaomi Automobile officially announced its new brand, 'SkyNomad,' meaning 'sky nomad,' and stated that the brand name is related to 'space' and 'life.'

On July 30, Xiaomi Automobile held its second technical launch event since entering the automotive industry, systematically sharing the Xiaomi Kunlun technology architecture. Meanwhile, two new models of the Xiaomi Pengcheng series were unveiled at the event.

On the evening of September 7, Lei Jun announced at Xiaomi's autumn flagship product launch event that the new models under the Xiaomi Pengcheng series were officially launched, with four variants: N70 Pro, N70 Max, N90 Max, and the N90 Max Explorer Edition.

Among them, the N70 Pro starts at RMB 209,900, marking the lowest price in Xiaomi's automotive history; the N70 Max and N90 Max start at RMB 239,900 and RMB 269,900, respectively, RMB 20,000 and RMB 30,000 cheaper than their pre-sale prices announced in July; the N90 Max Explorer Edition starts at RMB 299,900.

Official data shows that the Xiaomi Pengcheng series surpassed 10,000 locked-in orders in just four minutes. With this impressive performance, Xiaomi successfully made its debut in the extended-range SUV market.

For comparison, in March 2024, the Xiaomi SU7 surpassed 10,000 orders in four minutes, 20,000 orders in seven minutes, and 50,000 orders in 27 minutes.

In June 2025, the Xiaomi YU7 surpassed 200,000 orders in three minutes, 289,000 orders in one hour, and 240,000 locked-in orders in 18 hours.

Extended-Range Vehicles Struggle in China: Can Pengcheng Help Xiaomi 'Conquer' Overseas Markets?

In fact, amid the overall decline of the extended-range vehicle market in China, the launch performance of the Xiaomi Pengcheng series stands out.

Data from the China Passenger Car Association shows that in August this year, retail sales of extended-range vehicles in the domestic market reached only 81,000 units, down 22.2% year-on-year and 4.6% month-on-month, accounting for just 11.6% of pure electric vehicle sales and 35.8% of plug-in hybrid vehicle sales during the same period.

Extending the timeline further, retail sales of extended-range vehicles in the first eight months of the year reached 606,000 units, down nearly 20% year-on-year, accounting for just 13.6% of pure electric vehicle sales and 37.9% of plug-in hybrid vehicle sales during the same period.

However, 'when one door closes, another opens,' as extended-range vehicles have shown remarkable growth in exports.

In the first eight months of the year, exports of extended-range vehicles reached 34,000 units, up 262.4% year-on-year. While the total volume remains small, the growth rate far exceeds the 118.5% and 158.4% growth rates of pure electric and plug-in hybrid vehicles during the same period.

Notably, export growth of extended-range vehicles in August reached an astonishing 321.3%, significantly outpacing the 144.4% and 164.2% growth rates of pure electric and plug-in hybrid vehicles, respectively.

Leida Finance noted that amid the trend of Chinese automakers expanding overseas, Xiaomi also officially announced its overseas expansion plans this year.

During its Q1 earnings call in May, Lu Weibing, Xiaomi Group's partner and president, stated that Xiaomi Automobile's overseas expansion would proceed according to the timeline disclosed at the previous investor conference, with plans to officially launch in the third or fourth quarter of 2027.

Xiaomi Automobile's overall overseas strategy prioritizes developed markets over developing ones, premium segments over mid-range ones, and right-hand drive markets over left-hand drive ones.

Currently, the team is actively preparing for overseas expansion. Given the stringent regulatory environment for automobiles, which involves complex work such as compliance with laws and regulations, product localization adaptation, and channel network layout, overall progress remains on schedule, with further updates to be disclosed in a timely manner.

On September 3, Xiaomi Automobile officially announced its entry into the European market in 2027 and signed a cooperation memorandum with eight leading German automotive dealers at the 2026 Berlin International Consumer Electronics Show (IFA).

When asked why Xiaomi chose Europe as its first overseas market for automobiles, Lu Weibing explained that Europe's strong local brands and highly competitive market were the core reasons behind this decision.

'If we can achieve success in this market, entering other markets will be relatively easier,' Lu Weibing revealed, adding that partners have already independently conducted consumer brand surveys for Xiaomi. 'Things are completely different now, much better than when we entered the smartphone market years ago.'

It is worth mentioning that travel cultures involving camper vans and RVs are exceptionally strong in European and American countries. According to 2021 statistics, the top four countries in Europe by number of open campgrounds are France, the UK, Germany, and the Netherlands.

Germany has 3,097 open campgrounds, offering over 200,000 parking spaces, with approximately 1.96 million German households owning their own RVs. The Netherlands, with a land area less than half that of Chongqing, has 2,739 campgrounds and nearly 90,000 RVs.

Some believe that the lifestyle, spaciousness, and camper van travel attributes of the Pengcheng series models may pave the way for Xiaomi Automobile's European expansion. For example, the rooftop tent design of the Xiaomi Pengcheng N90 Max Explorer Edition could cater to the travel needs of some European car owners.

However, Xiaomi Automobile still faces numerous challenges at the performance level. According to Xiaomi Group's latest financial report, in the second quarter of this year, the company's smart electric vehicle and AI innovation business segment recorded an operating loss of RMB 2.6 billion, compared to an operating loss of RMB 300 million in the same period last year, with the loss expanding more than sevenfold year-on-year.

Meanwhile, the gross margin of the smart electric vehicle and AI innovation business segment dropped sharply from 26.4% in the second quarter of last year to 19.2%.

With the official launch of the Xiaomi Pengcheng series, will Xiaomi Automobile's business performance improve in the future? Leida Finance will continue to monitor developments.