Xiaomi Delays YU7 SUV Launch Following Fatal Accident

Xiaomi's push into the electric vehicle market has hit a setback following a fatal accident involving its SU7 sedan, with several media reports indicating the company has postponed the launch of its highly anticipated YU7 electric SUV, originally slated for June or July. The accident, which occurred in March and involved the vehicle's autopilot system, has sparked public debate about the safety of autonomous driving technologies and led to Xiaomi withdrawing from the Shanghai Auto Show. However, Xiaomi's public relations officials have denied any delay, insisting that the YU7 launch timeline remains unchanged, despite reports from sources familiar with internal plans that the launch has indeed been put on hold. The conflicting accounts have created uncertainty around the company's EV rollout, impacting investor sentiment and causing a drop in Xiaomi's stock price. Meanwhile, Chinese regulators have warned automakers not to exaggerate the capabilities of autonomous-driving features in response to growing safety concerns. Xiaomi had previously raised its EV sales target to 350,000 units for 2025 as it seeks to diversify beyond smartphones and compete with industry leaders Tesla and BYD.