- A Xiaomi SU7 caught fire after crashing into a highway guardrail in an accident that killed the three people in the car.
- Xiaomi's shares trade in Hong Kong fell by about 5 percent as of press time.
Just as Xiaomi (HKG: 1810, OTCMKTS: XIACY) maintained strong vehicle deliveries, a tragic fatal accident put the company in the spotlight and sent its shares tumbling.
A Xiaomi SU7 driving on a highway in Tongling, Anhui, caught fire after accidentally hitting a highway guardrail, killing the three people in the car, according to reports by multiple local media today.
The accident occurred on the night of March 29, and the vehicle's front was severely damaged, according to the reports.
As these reports were published, pictures and videos circulating on social media sparked widespread discussion, making Xiaomi a trending topic.
Xiaomi released an official response on Weibo at noon today, confirming the accident and saying it deeply regrets it.
Xiaomi's Hong Kong-traded shares fell rapidly in afternoon trading, down about 5 percent as of press time.
The vehicle was a SU7 standard version, and the accident occurred at 10:44 pm on March 29, according to Xiaomi's statement.
The SU7, which was launched on March 28, 2024, comes in three variants -- Standard, Pro, and Max -- with the Standard being the entry model.
Before the accident, the vehicle's NOA (Navigate on Autopilot) function was activated at 22:27:17 and continued driving at a speed of 116 km/h, according to Xiaomi's statement.
The road section where the accident occurred was undergoing repairs, and the lane in which the SU7 was initially driving was closed, so it switched to an adjusted lane.
At 22:44:24, the vehicle issued warnings after detecting obstacles ahead and began to slow down.
At 22:44:25, the driver took over the vehicle and continued to slow down and steer the vehicle.
Between 22:44:26-28, the vehicle collided with the concrete guardrail on the road, and the last speed that the system could confirm before the collision was about 97 km/h.
Xiaomi said it had set up a task force to cooperate with the police investigation in Tongling, and on March 31 submitted to the police the vehicle driving data and system operation information it had obtained.
One year after its launch, the Xiaomi SU7 is still very popular. Customers who order the model now still have to wait at least 40 weeks, which is longer than the about 26 weeks just after its launch.
Earlier today, Xiaomi EV, Xiaomi's electric vehicle arm, said it delivered more than 29,000 vehicles in March, marking the sixth consecutive month that it has seen monthly deliveries exceed 20,000 vehicles.
More on Xiaomi
