Reportedly, electric vehicle star-up NIO may have secretly submitted listing application document to the US Securities and Exchange Commission (SEC). It planned to raise about 2 billion US dollars. But as its preparatory work is still at early stage, the amount of funds to be raised is likely to change.
According to public information, NIO was established in 2014 and initiated by Tencent’s founder Pony Ma, Yiche.com founder Li Bin, the country's largest auto news portal Autohome’s founder Lixiang, JD.com founder Liu Qiangdong and Hillhouse Capital Group. Li Bin was appointed as CEO of NIO. It started its first round of financing from June 2015 and finished strategic funding in June 2017. It totally raised over 1 billion US dollars during the two years. Plus 1 billion US dollars funds from Tencent in last November, it has raised more than 2 billion yuan, which basically meets the target about capital reserves for building cars.
Analysts indicated that in the world’s largest automobile market of China, NIO is competing together with several dozens of peer startups. Going public will provide more capitals to the company.
Translated by Vanessa Chen
Latest comments