(Yicai) April 1 -- Xiaomi's stock price tumbled after the auto production arm of the Chinese maker of consumer electronics and electric vehicles released preliminary findings on a fatal highway crash involving one of its SU7 cars, which claimed three lives.

Xiaomi [HKG: 1810] closed 5.5 percent lower at HKD46.50 (USD5.98) a share in Hong Kong today. The stock has almost tripled in value in the past 12 months, but is down 22 percent from a record high of HKD59.45 on March 18.

Three university students were killed on March 29 when the SU7 they were in collided with a guardrail on a highway in the city of Tongling and caught fire, a spokesperson for Xiaomi Auto said on Weibo today. They were traveling from Hubei province to Anhui province for an examination.

Prior to the accident, the SU7 was operating in Navigate on Autopilot mode and was moving at a constant speed of 116 kilometers per hour, the spokesperson added.

The crash happened in a construction zone where traffic had been redirected to the opposite lane using barriers, the person said. The car detected obstacles, issued alerts, and began decelerating, with the driver then taking manual control to slow down further and steer the car before it hit a concrete post at about 97 km/h, they added.

Xiaomi Auto immediately formed a dedicated task force, dispatched personnel to the crash site on March 30, and submitted all available vehicle operation data and system logs to the authorities yesterday, the person said.

After the collision, Xiaomi immediately contacted the vehicle’s owner and confirmed that the car was driven by someone else, the spokesperson said, adding that the SU7's emergency response system automatically alerted rescue teams and notified police and medical services.

The police promptly arrived at the scene and began investigating, with Xiaomi's task force actively cooperating with the investigation, evidence collection, and related procedures under their guidance, the person said. The company said it will continue fully cooperating with the police, strictly adhere to the investigation's findings, and ensure complete transparency.

In addition, Xiaomi said it will help the families of the victims under police supervision and provide necessary support.

Editor: Martin Kadiev