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International Business Times UK

Andrea Trinidad

Xiaomi's Electric Dream in Peril? Fatal EV Crash Puts Tech Giant's Future on the Line After 8% Stock Slide

Xiaomi Tesla Inc.

A Xiaomi SU7 electric sedan on display amid rising safety concerns. (Credit: AFP News)

Xiaomi's future in the electric-vehicle market hangs in the balance after a deadly crash involving its SU7 sedan sparked global safety concerns and wiped nearly 8 per cent off its share price, according to a report from AFP.

The company's stock fell as much as 8.7 per cent in Hong Kong on Monday, its steepest decline since April. The plunge came after shocking footage emerged on social media showing a burning Xiaomi SU7 in the southwestern Chinese city of Chengdu.

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