On March 29, 2025, a tragic accident involving a Xiaomi SU7 electric vehicle resulted in the deaths of three female university students on the Deshang Expressway in Anhui Province, China. The vehicle was operating in Navigate on Autopilot (NOA) mode at a speed of 116 kilometers per hour when it detected an obstacle and began to decelerate. The driver took manual control but collided with a cement barrier at approximately 97 kilometers per hour.
Following the incident, Xiaomi’s shares experienced a significant decline. On April 1, 2025, the stock fell by 5.5%, closing at 46.50 Hong Kong dollars, marking its lowest point since February 17, 2025. This decline reflects investor concerns regarding the potential impact of the accident on Xiaomi’s electric vehicle ambitions.
Xiaomi has stated that it is actively cooperating with police investigations and has provided driving and system data to authorities. The company emphasized its commitment to transparency and pledged full support to the ongoing investigation.
The accident poses a potential setback for Xiaomi’s aspirations in the electric vehicle market, where it has recently experienced significant growth. The SU7 model had a successful launch, contributing to a 35% increase in Xiaomi’s share price earlier in the year. However, the recent decline underscores the challenges and risks associated with the automotive industry, particularly concerning advanced driver-assistance systems.
The fatal accident involving the Xiaomi SU7 has raised concerns about the safety of advanced driver-assistance systems and their implementation in electric vehicles. As the investigation continues, it remains to be seen how this incident will impact Xiaomi’s position in the competitive electric vehicle market and its future endeavors in automotive technology.