Xiaomi Stock Plummets $10 Billion Following Devastating SU7 Blaze
The recent incident involving a Xiaomi SU7 electric sedan has severely impacted the company’s financial standing. Shares of Xiaomi Corporation have plummeted by approximately $10 billion following a tragic accident linked to the vehicle. This marks the third fire-related incident this year concerning the SUV.
Details of the Incident
The fatal crash took place early in the morning, at around 3:18 a.m. in Chengdu, China.
- The vehicle unexpectedly collided with another car.
- Following the collision, the Xiaomi SU7 jumped a median and caught fire.
Victim and Investigation
The driver involved in this incident was a 31-year-old man, identified by the surname Deng. Reports indicate that he may have been under the influence of alcohol at the time of the crash. Local authorities are continuing their investigation to determine the exact sequence of events.
Xiaomi’s Challenges
This disturbing event adds to Xiaomi’s challenges as it faces scrutiny over the safety of its debut vehicle. With three fire-related incidents occurring within the year, consumer confidence in the Xiaomi SU7 could be jeopardized.
The implications of this incident extend beyond the tragic loss of life. The significant decline in stock value reflects investors’ concerns about the company’s reputation and product safety. As Xiaomi navigates this crisis, its future performance in the electric vehicle market may be uncertain.
