At 10:44 PM on March 29, a Xiaomi SU7 Standard Edition was involved in an accident in Tongling, Anhui, resulting in the deaths of the driver and two passengers. At the time of the accident, the vehicle was in NOA (Navigation on Autopilot) mode, traveling at a speed of 116 km/h. After a detour due to roadwork, the car detected an obstacle and began decelerating. However, the driver took over control but was unable to avoid a collision with a concrete barrier, with the car’s speed at 97 km/h before the impact.

On April 1 at noon, Xiaomi issued a response, partially reconstructing the events of the accident. However, the statement did not mention the status of the vehicle's AEB (Automatic Emergency Braking) system nor address the crucial issue of the doors not opening after the crash. Later that evening, Xiaomi Motors issued another response, stating they had not yet contacted the accident vehicle and could not confirm whether the doors could open post-collision. They also explained the AEB system’s operational range, stating it is effective within a speed range of 8-135 km/h but does not apply to obstacles such as cones, water barriers, stones, or animals.

The incident quickly sparked widespread public discussion. Xiaomi Motors had previously attracted young consumers with its powerful and fast vehicles, but this accident led the public to reassess its safety. It also caused turbulence in the capital market. On the afternoon of April 1, Xiaomi Group’s stock price fell sharply, dropping by more than 6% during the day and closing with a 5.49% loss, resulting in a market value drop of over HK$70 billion. This change reflects investor concerns about the safety of Xiaomi’s cars and its future prospects, especially given the unprecedented doubts surrounding the car project led by Lei Jun.

The Future of Intelligent Driving: Reflections After the Xiaomi SU7 Accident

Since its launch, the Xiaomi SU7 has experienced its most severe collision and explosion incident, resulting in fatalities. This event has sparked industry-wide reflections on the safety of intelligent driving and raised doubts about whether it truly represents the future of automobiles. Previously, the capital market regarded Xiaomi’s car manufacturing project as a paradigm of a "cross-industry disruptor." On March 31, S&P upgraded Xiaomi’s credit rating to BBB. However, on April 1, the company’s stock price plummeted, leading to a market value loss of over HK$70 billion. This accident highlights the harsh realities of the new energy vehicle sector: while valuations are built on the halo of technology and capital enthusiasm, a single extreme incident can shake the foundation.

Looking back at history, intelligent electric vehicle companies have inevitably gone through "growing pains" during their development. In 2018, Tesla suffered a major stock drop due to a fatal Autopilot-related accident. In 2021, NIO faced a user trust crisis following an accident involving its NOP (Navigate on Pilot) system. Similarly, Li Auto encountered controversy over AEB (Automatic Emergency Braking) failures, prompting upgrades to its algorithms. Each painful lesson has driven improvements in industry safety standards and accelerated advancements in intelligent driving technology.

For Xiaomi, which has just crossed the "survival line" in car manufacturing, finding the balance between technological innovation and safety will determine whether it can establish a firm foothold in the automotive market and continue its journey forward.