Xiaomi shares slide after report EV crash left driver trapped inside

Xiaomi’s shares dropped as much as 8.7% Monday

Xiaomi shares fell the most since April after reports that one of its SU7 electric sedan’s doors failed to open after a fiery crash in the southwest Chinese city of Chengdu, trapping at least one person inside.

Xiaomi shares fell the most since April after reports that one of its SU7 electric sedan’s doors failed to open after a fiery crash in the southwest Chinese city of Chengdu, trapping at least one person inside.

Chinese media reports and videos circulating on social media platforms including Weibo showed the vehicle after it crashed and burst into flames early Monday. Several bystanders tried to open the doors but were unable to free the person.

A National Business Daily report said a person in the driver’s seat had been trapped. Authorities haven’t released information on fatalities or injuries relating to the incident, according to the Dahe Daily, a state-run newspaper in Henan province.

Xiaomi’s shares dropped as much as 8.7% on Monday. The company didn’t immediately respond to a request for comment.

The crash follows a fatal accident earlier this year involving a Xiaomi SU7 EV on a Chinese expressway that sent the company’s stock falling and triggered scrutiny of the smart driving software used in many of the latest cars.

It could also raise further questions over the safety of electronically-operated car door handles similar to those popularised by Tesla. The US’s National Highway Traffic Safety Administration said in September it had opened a defect investigation into certain Tesla Model Y door handles, while a top Chinese regulator is reportedly considering a ban on fully concealed door handles.

The probe announcement came days after a Bloomberg News investigation uncovered a series of incidents in which people were injured or died after they weren’t able to open doors when Teslas lost power — particularly after crashes.

Bloomberg