Fatal accident in China involving Xiaomi EV leaves 3 dead

A fatal accident in China involving an electric vehicle from Xiaomi has left three people dead

causing stock in one of the country's fastest growing domestic EV makers to drop

This incident took place on March 29th in eastern China, and authorities are currently investigating

The car involved was a Xiaomi SU7 equipped with the company's advanced driver assistant system

known as Navigate on autopilot, which had been engaged before the crash

According to Xiaomi, the system issued a risk warning of operations. obstacles ahead, but the driver was unable to prevent the collision. The company also revealed the car was

traveling at 72 miles per hour when the accident occurred and collided with a cement pole, causing a fire

There were reports the car's door failed to unlock after the crash, though Xiaomi stated it has not been

able to confirm this detail, as it does not currently have access to the vehicle. Following the deadly

accident, shares in the automaker stock fell, 5.5% in Hong Kong trading and experienced a 6.7% drop

U.S. after hours trading. This comes just one week after Xiaomi raised $5.5 billion to expand

its electric vehicle division, which already sold more EVs than both Ford and General Motors

a year ago, despite only launching its first electric model in 2024. In a statement about the recent

accident, Xiaomi's founder said he was, quote, heavy-hearted about the loss of life, while vowing

the company would fully cooperate with the ongoing police investigation, address public concerns

and not evade responsibility. For Straight Arrow News, I'm Jack Almer