Chinese electric car start-up joins NYSE

Ding Xiaoxiao China Plus Published: 2018-08-14 18:06:05
Comment
Share
Share this with Close
Messenger Messenger Pinterest LinkedIn

Chinese electric car start-up NIO has submitted an IPO to the U.S. Securities and Exchange Commission, hoping to raise 1.8 billion US dollars on the New York Stock Exchange. The company will be trading under ticker symbol "NIO," reports Sohu.com.

Visitors inspect and test the NIO ES8 electric SUV on display at the company's flagship store in Hangzhou, Zhejiang province, August 14, 2018.[Photo: IC]

Visitors inspect and test the NIO ES8 electric SUV on display at the company's flagship store in Hangzhou, Zhejiang province, August 14, 2018.[Photo: IC]

Backed by Tencent, NIO has already raised 2.4 billion US dollars in several previous rounds of private financing.

The electric carmaker officially launched its first model of ES8, a seven-seat electric SUV, in late 2017 in China. The company has already produced 1,300 ES8's, with close to 500 having been delivered.

NIO was founded in November 2014. The company has research and development, design and manufacturing centers in Shanghai, Beijing, San Jose, Munich, London and nine other locations around the world. 

NIO plans to launch its second SUV, the ES6, which will be a lower-level model from the ES8. The ES6 is slated for deliveries by the middle of 2019. 

Related stories

Share this story on

Most Popular