Funding Secured: Chinese Tesla Contender Nio Files To Enhance $1.8 Billion Inwards Us Ipo

Goldman (Asia) JPM together with Morgan Stanley (left lead) are altitude of the bulge underwriters, I didn't hold back for bookrunners.
From TechCrunch:

Tesla may live on looking to become private, but Chinese challenger Nio is going the other mode later it filed to heighten $1.8 billion inward an IPO on the New York Stock Exchange.

Nio was started inward 2014, initially as NextCar, by Bin Li, an entrepreneur who founded online automotive services platform Bitauto. The company is backed past times Chinese meshing giants Baidu together with Tencent amid others, together with it has developed two vehicles together with then far: the EP9 supercar together with ES8.

The one-time is actually a concept/racer automobile — it broke the electrical vehicle speed tape final twelvemonth — but the ES8, pictured above, is a automobile designed for the masses which is priced at 448,000 RMB, or or together with then $65,000.

Nio opened sales for the ES8 final year but it entirely began transportation inward June. Thus, to date, it has fulfilled just 481 orders, although it claims that in that place are 17,000 customers who position downward reservations waiting inward the wings.

That agency that, essentially, it is pre-revenue at this point.

The society reported revenue of $6.9 1000000 equally of the halt of June — together with then i calendar month of deliveries — amongst a full loss of $502 1000000 for 2018 to date. Last year, Nio lost $759 1000000 inward 2017, that included no revenue together with virtually $400 1000000 spent on R&D.....MUCH MORE