BEIJING (AP) — Two people involved in testing for the electric car brand NIO died when one of its vehicles fell three stories from a Shanghai parking structure, the company said Friday.
The crash Thursday was under investigation but appeared to be an accident and “not caused by the vehicle,” the company said in a statement. It said the employees who died were “digital cabin testers,” one from NIO and the other from a partner.
The vehicle fell from the third floor of a parking structure adjacent to the company’s Shanghai Innovation Port building, the company said.
Photos in Chinese media showed the vehicle lying on its side with its roof caved in, surrounded by broken glass and emergency workers.
NIO Inc., founded in 2014, is a Chinese-Western hybrid with bases in Shanghai, London and Silicon Valley and the most prominent premium-priced Chinese brand in a crowded electric vehicle industry with dozens of competitors. Its early investors included Chinese tech giants Tencent, Baidu and Lenovo.
The company has a service that allows owners to swap drained batteries instead of recharging them. It has set up 143 battery-swap stations in cities including Beijing and Shanghai.
___
NIO Inc.: www.nio.com
Before you consider NIO, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NIO wasn't on the list.
While NIO currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
