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Auto Tech Day launches SkyNomad Quick Note

发布日期: 2026-07-30研究机构: Nomura报告页数: 10原文语言: English证据页码: 1

研报英文原文证据摘录

Global Markets Research

Xiaomi Corporation 1810.HK 1810 HK 30 July 2026

EQUITY: TECHNOLOGY

RatingAuto Tech Day launches SkyNomad Remains Neutral

Target price HKD 33.00 RemainsQuick Note

Closing price HKD 31.04 30 July 2026SkyNomad takes Xiaomi into EREVs; first step into extended-range

Xiaomi held its second Auto Technology Day on 30 July, launching SkyNomad (澎程) as a

second model series alongside SU7/YU7 and marking its first move from pure battery

electric vehicles (BEV) into extended-range electric vehicles (EREV). The event centered Research Analysts

on the Kunlun technology architecture and unveiled two models: the N90 Max, a large China Technology

seven-seat flagship SUV (5,285mm length, 3,080mm wheelbase), and the N70 Max, a Donnie Teng - NIHK

large five-seat four-wheel-drive SUV (4,960mm, 2,950mm). Per management, the series donnie.teng@nomura.com

carries a maximum 76kWh CALB (3931 HK, Not rated) ternary pack, CLTC (China light- +852 2252 1439

duty vehicle test cycle) pure-electric range of up to 505km, and a 1,499cc range extender Anne Lee, CFA - NITB

from Dongan (600178 CH, Not rated) rated at 112kW net power; management cited anne.lee@nomura.com

depleted-battery fuel consumption of 5.7L/100km. Xiaomi backstopped durability claims +886(2) 21769966

with 626 days of road testing, 566 test vehicles, and 4.28mn km of accumulated mileage. Frank Fan - NIHK

Unlike the SU7 playbook, pricing was disclosed, with launch and deliveries guided for frank.fan@nomura.com

September. +852 2252 2195

N90 Max and N70 Max priced below expectations at CNY299.9k and CNY259.9k, China Autos & Auto Parts

respectively; peers under pressure Joel Ying, CFA - NIHK

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