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Chinese premium EV player NIO files for IPO

Published 08/13/2018, 07:53 PM
© Reuters.  Chinese premium EV player NIO files for IPO
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  • Chinese electric vehicle company NIO (NIO) filed for a confidential IPO on the New York Stock Exchange.
  • The Shanghai-based company used a placeholder amount of $1.8B in the offering filing.
  • NIO is aiming for high-performance, premium segment in what's rapidly becoming a crowded EV market in China.
  • NIO mentioned Tesla (NASDAQ:TSLA) several times in its SEC filing F-1 as a major competitor.
  • F-1: "The China automotive market is highly competitive. We have strategically entered into this market in the premium EV segment and we expect this segment will become more competitive in the future as additional players enter into this segment. We also expect that we will compete with international competitors, including Tesla. Our vehicles also compete with ICE vehicles in the premium segment."


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