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Hong Kong stocks of smart cars plummeted, affected by the death of a well-known entrepreneur driving NIO ES8

Hong Kong stocks related to smart cars fell, while Ideal Auto fell 5%.Xiaopeng Motor falls 3.5%,BYD shares fell 6.4%.
Shares of Remains in Hong Kong Drop in the Monday Morning Trade, Li Auto Falls 5%, BYD Falls 6.4%, XPEV Dips 3.5%.
  $XPENG-W(09868.HK)$ 
  $BYD COMPANY(01211.HK)$ 
  $LI AUTO-W(02015.HK)$ 



Entrepreneur “Meng Swordsman” died in a car accident, and NIO ES8 sparked speculation
Chinese media says a Chinese story was never in a car crash when driving NIO ES8 with NOP (Navigate on Pilot) on.

At 2:00 p.m. on August 12, Lin Wenqin (“Meng Swordsman”), founder of Shangshan Ruoshui Investment Management Company, drove a NIO ES8 to activate the autonomous driving function (NOP pilot status), a traffic accident occurred on the Hanjiang section of the Shenhai Expressway and unfortunately passed away.

NIO says NOP (Navigate on Pilot) not automatic driving system.

A person from NIO's brand department responded, “Navigate on Pilot (NOP) pilot assistance is not autonomous driving, and future survey results will synchronize information with the outside world.


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