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A Nio ES8, the vehicle involved in the crash, at the Shanghai International Automobile Industry Exhibition in 2021.
Hector Retamal/AFP via Getty Images
Shares of Chinese electric-vehicle maker
NIO
were weak Monday morning following several reports of a fatal accident involving the company’s self-driving features.
NIO shares were down about 5% in premarket trading Monday.
S&P 500
and
Dow Jones Industrial Average
futures were both down about 0.3%.
The fatal crash took place this past week in China and involved the company’s ES8 sport-utility vehicle, or SUV. The vehicle is equipped with several driver assistance functions, including features enabled by
Intel
(ticker: INTC) division Mobileye, that enable some forms of autonomous driving. NIO’s driver assistance functions are called NIO Pilot and employ cameras as the so-called eyes of the car.
NIO has other autonomous driving technology, referred to as NAD, such as radar, lidar—a laser-based