NIO files US$1.8b IPO in US
Print Edition
Chinese electric carmaker NIO has filed for a US$1.8 billion initial public offering in the United States as the burgeoning company seeks to compete with US rival Tesla.
NIO is one of dozens of new automakers to crop up in China as policy-makers push an all-electric future for the world’s largest auto market.
American, Japanese and European auto giants dominate sales of combustion engine vehicles in China, but homegrown firms unencumbered by the billions sunk into refining gasoline engines are in the driver’s seat when it comes to electric cars.
While Tesla chief Elon Musk is trying to take his company private, NIO filed papers at the US Securities and Exchange Commission on Monday to go public.
But the upstart Chinese automaker faces a long road ahead for its proposed float of up to US$1.8 billion on the New York Stock Exchange.
The company had delivered only 481 of its first mass production electric SUV model, ES8, by the end of July, with reservations and deposits in place for an extra 17,000.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
