"Fire After Collision": Another Fatal Accident Involving Xiaomi Electric Car... Stock Plummets

Fire Erupts After Collision
Doors Fail to Open During Rescue Efforts

A driver was killed after a fire broke out following a traffic accident involving a Xiaomi electric car in China. As safety concerns surrounding the Xiaomi electric car model-already implicated in a fatal accident in March-resurfaced, Xiaomi's stock price fell by around 5%.

Xiaomi electric car caught fire after collision in China. Yonhap News

On October 13 (local time), Chinese media outlets including The Paper reported that a traffic accident involving the Xiaomi SU7 electric car occurred at around 3 a.m. on a road in Chengdu, Sichuan Province, China.

According to local media, based on footage from the scene, the vehicle appeared to lose control after the driver turned the steering wheel to the left to avoid a right-turning car at a traffic light crosswalk. The car struck a roadside greenbelt, rolled into the opposite lane, and then caught fire.

The driver was reportedly trapped inside the vehicle as the flames spread rapidly and ultimately died. Bystanders attempted to rescue the driver, but local media reported that the windows would not break and the car doors would not open. Firefighters who arrived later extinguished the fire and used a hammer and an electric saw to open the doors.

Following the fatal accident, Xiaomi's stock price on the Hong Kong Stock Exchange plunged as much as 8.7% during intraday trading to 47.5 Hong Kong dollars, marking its lowest point since the end of April. The stock later recovered some of its losses, trading at 49.08 Hong Kong dollars as of 4:44 p.m. KST, down 5.71% from the previous session.

The vehicle involved in the accident was Xiaomi's first electric car model, released in March last year by the electronics company. Xiaomi, which announced its entry into the electric vehicle market in 2021, drew significant attention when it launched its first electric car after three years. However, a series of accidents has led to renewed controversy over the vehicle's safety.

Earlier, in March, a standard SU7 vehicle operating in autonomous driving mode collided with a guardrail on a highway in Anhui Province, resulting in the deaths of all three occupants. Following that accident, Xiaomi faced criticism for exaggerated advertising, and vehicle orders in April dropped by half, dealing a significant blow to the company.

In June, an SU7 was involved in a chain collision at an intersection in Zhengzhou, Henan Province, crashing into 16 vehicles, including eight regular cars, seven electric vehicles, and one motorcycle. Although there were no serious casualties in this incident, safety concerns were reignited.

This content was produced with the assistance of AI translation services.