AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
China's Xiaomi delays release of first SUV after fatal road accident
Xiaomi, a leading tech company known for its smartphones and smart home devices, has postponed the release of its first SUV, the YU7, following a fatal road accident involving its SU7 electric vehicle (EV) in Anhui province, China. The accident, which occurred last month, resulted in three deaths and has sparked widespread discussions about EV safety in the country.
The accident involved an SU7 EV traveling at 116 km/h on a highway with the driver-assistance system engaged. The system alerted the driver to take over the wheel two seconds before it hit a concrete barrier, according to Xiaomi. This incident has led the Chinese government and industry associations to urge automakers to enhance safety features and avoid overstating the capabilities of their self-driving systems.
The China Association of Automobile Manufacturers (CAAM) and the China Society of Automotive Engineers have called on carmakers to improve product safety designs and develop effective warning systems. The country's EV industry, which has developed rapidly, is at a critical stage for large-scale application of driver-assistance systems, according to a joint statement from the two organizations. The statement aims to build a healthy ecosystem and promote the safe application of driver-assistance products.
Xiaomi has cooperated with police following the accident and is expected to face further scrutiny over its self-driving technologies. The Ministry of Industry and Information Technology (MIIT) has summoned officials from 60 companies, including Xiaomi, to a meeting to ensure compliance with regulations governing self-driving technology development. The government has warned companies not to overstate the role of driver-assistance systems, particularly the terms "smart driving," "advanced smart driving," and "autonomous driving."
The YU7, Xiaomi's upcoming electric SUV, was expected to be showcased at China's largest auto show next week. However, the company has decided not to feature the vehicle at the event, citing the need to ensure it is in its best state before release. The YU7 was anticipated to be a strong competitor to Tesla's Model Y in the Chinese market.
The SU7 sedan has been a significant success for Xiaomi, outselling Tesla's Model 3 on a monthly basis since December. However, the fatal accident involving the SU7 has raised concerns about the safety of Xiaomi's EVs and the broader EV industry in China.
References:
[1] https://www.scmp.com/business/china-evs/article/3307355/chinese-ev-makers-urged-boost-safety-self-driving-systems-after-xiaomi-crash
[2] https://finance.yahoo.com/news/xiaomi-not-bring-yu7-chinas-072943715.html

Daily stocks & crypto headlines, free to your inbox
Comments
No comments yet