http://www.bbc.co.uk/sport/0/formula1/30319256
It appears that Bianchi didn't slow enough to avoid losing control prior to the accident. Also, the system ("Failsafe algorithm") designed to over ride the throttle pedal in the event of both brake and throttle being applied together failed to work. When he left the track he applied both brake and throttle and, it appears, the system didn't kill the throttle. It's implied that might have affected the overall dynamics of the crash.
Marussia had a unique brake-by-wire system and it appears to have been incompatible with the failsafe system.
Looks like a combination of driver error and technical failure led to his present serious condition.
Report summary here:
http://www.fia.com/news/accident-panel
Interestingly, bearing mind some of the discussion hereabouts, the following point is made:
It is not feasible to mitigate the injuries Bianchi suffered by either enclosing the driver’s cockpit, or fitting skirts to the crane. Neither approach is practical due to the very large forces involved in the accident between a 700kg car striking a 6500kg crane at a speed of 126kph. There is simply insufficient impact structure on a F1 car to absorb the energy of such an impact without either destroying the driver’s survival cell, or generating non-survivable decelerations.
It is considered fundamentally wrong to try and make an impact between a racing car and a large and heavy vehicle survivable. It is imperative to prevent a car ever hitting the crane and/or the marshals working near it.
If you are more fortunate than others, build a larger table not a taller fence.