Tech

Chinese Electric Vehicle Manufacturer NIO to be Publicly Offered

China's new but successful electric vehicle maker, NIO, sells its shares in the US market.

The Chinese company NIO is planning to open up its stock market. The electric vehicle manufacturer has not tried to sell one of its vehicles in the US yet; He's going to sell his shares on the New York Stock Exchange.

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The company is planning a $ 1.8 billion public offering to expand the company's production facilities and increase AR-GE.
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NIO, established as NextEV in 2014, wants to enter China's emerging electric vehicle market with a range of first-rate automobiles. Chinese technology company Tencent also supports NIO

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The car maker is still new to the electric vehicle market. The first vehicle, the 7-seat ES8 SUV, began to find owners in China in June. In 2019, the company will add ES6 SUVs to the same electric vehicle at no cost. NIO will only sell in China for now.

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NIO's EP9 Supercar won a record of 7 minutes 5 seconds between electric cars last year at the Nürburgring Nordschleife