AsianFin -- Xiaomi Corp. confirmed that one of its SU7 electric vehicles was involved in a fatal accident on a Chinese expressway, with local media reporting that three people lost their lives. The incident is expected to intensify scrutiny of the smart driving software used in modern vehicles.
Following the news, Xiaomi’s stock dropped as much as 6.1% in Hong Kong. The company’s shares have fallen nearly 18% since last week, when Xiaomi raised approximately $5.5 billion in an equity sale to support the expansion of its electric vehicle business.
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