13.10.2025 16:34
The SU7 model sedan, belonging to the world-famous brand Xiaomi, suddenly caught fire during an accident in Chengdu, China, resulting in the driver's death. This incident caused the company's stock prices to plummet. It was reported that passersby attempted to open the doors of the vehicle engulfed in flames but were unsuccessful.
The Xiaomi shares traded on the Hong Kong stock exchange experienced a sharp decline after images of a SU7 model sedan catching fire in Chengdu, China, spread on social media. The shares recorded their steepest drop since April, with a loss of up to 8.7% on Monday. Later in the day, some of the losses were recovered as the impact of the videos diminished.
DRIVER LOST HIS LIFE
According to eyewitness accounts, passersby tried to open the car doors but were unsuccessful. Teams that arrived at the scene managed to control the fire with fire extinguishers. Chengdu police stated that the accident occurred as a result of a collision between a SU7 model vehicle and another car, and a 31-year-old man, suspected of being an intoxicated driver, lost his life.
PAST ACCIDENT CONCERNS BACK ON THE AGENDA
This recent incident has brought back to the forefront the fatal accident involving the SU7 model that occurred earlier this year. The accident sparked discussions about the vehicle's smart driving system and safety performance, which had also led to a sharp decline in Xiaomi shares at that time. Investors are closely monitoring the impact of the recent accident on the brand's safety perception and its potential implications for competitiveness in the electric vehicle market.