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3w ago

Xiaomi Under Scrutiny After Fatal SU7 EV Accident in China

The March 29 crash, involving the SU7's Navigate on Autopilot mode, has raised safety concerns and led to a 5.5% drop in Xiaomi's share price.

The logo of Xiaomi is seen on a tyre wheel of Xiaomi's first electric vehicle SU7, which is displayed at a showroom of a newly opened Xiaomi store in Beijing, China March 25, 2024.
The controls and screen interface of a Xiaomi SU7 Ultra electric vehicle at the MWC25 tech show in Barcelona, Spain on March 3, 2024.
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Customers experience a Xiaomi SU7 electric car at Xiaomi's flagship smart home store in Shanghai, China.

Overview

  • Xiaomi is cooperating with police investigations into a fatal March 29 accident involving its SU7 electric vehicle in Tongling, Anhui Province.
  • The SU7 was in Navigate on Autopilot mode and traveling at 116 kph before the driver attempted to take control, resulting in a collision at 97 kph.
  • The crash, which killed the driver and two passengers, involved the standard SU7 model that lacks advanced LiDAR-based smart driving technology.
  • Xiaomi disclosed that the vehicle issued a risk warning seconds before the collision but could not avoid the crash.
  • Following the incident, Xiaomi's stock price dropped by 5.5%, reflecting investor concerns over the safety of its autonomous driving systems.