[SHANGHAI] 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 on Monday (Oct 13). 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 have not 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 per cent on Monday. The company did not 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 popularized 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 were not able to open doors when Tesla lost power – particularly after crashes. BLOOMBERG
