Core Viewpoint - Li Auto Inc. is recalling 11,411 of its Mega electric vehicles in China due to safety concerns following a fire incident, highlighting increasing scrutiny on the EV industry's safety standards [1][2]. Group 1: Recall Details - The recall affects the 2024 model of the Mega produced between February 18, 2024, and December 27, 2024, due to a coolant defect that could lead to thermal runaway in extreme conditions [2]. - The recall will commence on November 7, and the company will replace the coolant, power battery unit, and front motor controller on the affected vehicles, along with extending their standard warranty period [3]. Group 2: Safety Concerns and Regulatory Response - The incident that triggered the recall involved a Mega vehicle catching fire while in motion, raising public safety concerns [2]. - The investigation ruled out the possibility of the fire being caused by the battery cells manufactured by Contemporary Amperex Technology Co. Ltd. [3]. - The swift response from Li Auto reflects the growing scrutiny of the EV industry's safety record, with regulators proposing stricter rules on driver-assistance systems and door handle mechanisms following recent accidents [4][5]. Group 3: Company Commitments - Li Auto has committed to "eliminate all hidden dangers" and ensure "no further self-ignition accidents" in its vehicles [6].

Li Auto is recalling 11,411 of its flagship Mega multi-purpose electric vehicles in China after one of its cars caught fire last week, highlighting growing concerns about EV safety https://t.co/fYhfUcniv1 ...

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]