NIO, first Chinese EV manufacturer to go public in the US

In mid-August, NIO officially submitted an IPO prospectus to the US SEC. On September 12th, Beijing time, IIA learned from NIO official that NIO was officially listed on the New York Stock Exchange with the stock code “NIO”. This means that NIO became the first Chinese electric vehicle company to go public in the US, and it also became the second large electric vehicle manufacturers to have an IPO in the US after Tesla.

At 9:30 am,EDT, September 12, 12 NIO’s users, including ordinary consumers, partners and representatives of the car owners from NIO company, jointly ringed the listing clock of the NYSE. The Chinese EV startup company with the stock code of “NIO” has officially been listed in the US and became the first Chinese EV company to go public in the US.

The initial public offering price of NIO was set at $6.25. Based on that, NIO’s total financing amounted to approximately $1.15 billion and the company’s valuation was about $6.4 billion.

In a supplementary document submitted by NIO to the SEC on the IPO prospect on August 28, NIO revealed that NIO’s revenue for the first half of this year was $6,951 million, of which the vehicle sales revenue was $6.71million.

NIO, which has set 6 NIO Houses in 6 cities, was established in 2014. It is expected that there will be 15 NIO Houses in 13 cities in 2018. In the meantime, NIO has planted the NIO Power in 8 cities and it is expected to have NIO Power in 33 cities in 2018.

NIO’s first production vehicle, NIO ES8, was released in 2017, and has been delivered in the first half of this year. And this model has been delivered in 55 cities. At the same time, in the latest prospectus NIO further revealed its capacity and the delivery report of ES8: up till August 28, NIO has produced 2,200 units of the ES8 and has delivered 1,381 units, and 15,000 orders were to be delivered.

It is reported that after the release of the ES8, NIO will also launch the second SUV, the ES6, before 2019. It is a 5-seat high-performance electric SUV with a lower price than that of the ES8. The ES6 will be delivered for the first time in the first half of 2019.