1 day ago
Last Updated:April 02, 2025, 10:46 IST
Xiaomi China Car Crash: Xiaomi CEO Lei Jun expressed condolences to the family members of the three people who were killed in the accident in a post on Weibo.
Xiaomi China Car Crash: Xiaomi said that one of its SU7 electric vehicles was involved in an accident.
Xiaomi China Car Crash: Xiaomi SU7 involved in an accident on an expressway in China, the company confirmed as local media reported that three people died in the incident which sparked scrutiny over the smart driving software deployed in many cars.
What Xiaomi CEO Said
Xiaomi CEO Lei Jun expressed condolences to the family members of the three people who were killed in the accident in a post on Weibo. He also said that a special team has been set up by the company after the accident took place.
The company submitted EV data to police, he said, adding, “As the accident is still under investigation, we haven’t had access to the vehicle involved in the accident. Many questions can not be answered currently."
Xiaomi Stocks Slump
Xiaomi’s stock fell as much as 6.3 percent in Hong Kong before closing 5.5 percent lower. Since last week when Xiaomi raised about $5.5 billion in an equity sale to fund its EV business, the tech giant’s shares have slumped almost 18 percent.
Shen Meng, director at Beijing-based investment bank Chanson & Co., said, “Investors might have concerns over Xiaomi’s competitiveness and growth outlook after reports of the car accident. The completion of the share sale has also weighed on sentiment."
What Initial Investigation Shows On Xiaomi Car Crash
The car’s advanced driver assistance function had been engaged less than 20 minutes before the crash, the company’s report said. Alerts were issued because the driver apparently wasn’t holding on to the steering wheel.
The driver retook control of the wheel after another warning was sent about obstacles in the road. The car then crashed into concrete fencing on the side of the road, the report noted.
Location :China
First Published:April 02, 2025, 10:46 IST
News world Xiaomi Car With Driver Assistance Crashes On China Expressway, 3 Reported Dead
