Goldman Sachs: Xiaomi Group-W (01810) new car pricing disruptively maintains a “buy” rating

The Zhitong Finance App learned that Goldman Sachs released a research report saying that Xiaomi Group-W (01810) held an automotive technology conference last night (30th), unveiled the new technology platform “Xiaomi Kunlun Technical Architecture” for Xiaomi cars, and launched the new car series “SKYNOMAD Xiaomi Pengcheng”, worth 259,900 yuan and 299,900 yuan respectively. Goldman Sachs believes that the Kunlun platform can achieve a large, intelligent and fully configurable interior, equipped with a flat floor and long track system, bringing new features to the automotive industry. Goldman Sachs maintains a “buy” rating for the Xiaomi Group, with a target price of HK$40.

The bank pointed out that the native platform will become a key technological differentiation advantage for Xiaomi Pengcheng, and that the long battery life support provided by the Xiaomi Kunlun Super Range will attract traditional fuel vehicle consumers. Furthermore, Xiaomi is deeply involved in the battery manufacturing process, and Goldman Sachs believes that the group is mastering core technology rather than just being a battery buyer.

Goldman Sachs described the pre-sale price of the new Xiaomi Pengcheng series as potentially disruptive to the Chinese automobile market, considering its industry-leading interior space, battery life support, and unique ecosystem integration. Goldman Sachs continues to forecast the delivery volume of 110,000 units and 240,000 units of the Xiaomi Pengcheng series in 2026 and 2027, respectively. The sales volume in 2027 is equivalent to 15% of the more than 1.6 million SUVs (excluding pure electric vehicles) priced between 200,000 and 400,000 yuan in 2025; under optimistic circumstances, sales are expected to reach 500,000 units in 2027.