Xiaomi shares slump to five-month low after fatal EV crash raises safety fears

Core Viewpoint - Shares of Xiaomi Corp experienced a significant decline of up to 8.7%, reaching HK$47.5, marking the lowest level since April 30, following reports of a fatal crash involving one of its electric vehicles in China [1] Company Summary - The drop in Xiaomi's stock price is attributed to negative news surrounding the safety of its electric vehicles, which could impact consumer confidence and sales [1] - The incident raises concerns about the company's electric vehicle segment, which is a critical area of growth for Xiaomi [1] Industry Summary - The electric vehicle market in China is highly competitive, and safety incidents can lead to increased scrutiny from regulators and consumers alike [1] - The incident may have broader implications for the electric vehicle industry, potentially affecting investor sentiment and market dynamics [1]