China's Tesla-killer ready to go public in New York

China’s Tesla-killer ready to go public in New York

Chinese electric vehicle start-up NIO on Monday filed for a $1.8 billion initial public offering of its American depositary shares, the biggest USA listing by a Chinese automaker. According to previous reports, NIO had plans to file for a US-based listing in September, with the company refusing to comment at that time. According to Frost & Sullivan, battery-powered electric vehicle sales are expected to increase by over 40% through 2022.

Will Tesla face the same fate in China as Uber and Amazon in local rivals' home turf?

Shanghai-based Nio launched sales of its first mass production auto ES8 electric sport utility vehicle late previous year. As of July 31, customers had put down deposits on 17,000 of the vehicles. The vehicle comes with a price tag of $65,000, or about half the current price of the most basic version of Tesla's Model X SUV in China.

Founded in 2014, NIO counts Tencent as its biggest institutional investor, with a 15.2 per cent stake, followed by Hillhouse Capital's 7.5 per cent.

"Iron Fist" Season 2 Highlights A Familiar Foe In New Trailer
Marvel has been even more tight-lipped than usual about what shape the Iron Fist Season 2 story might take. It'll be up to Metzner to right the ship.

Perseid Meteor Show Wows Skywatchers with Celestial Fireworks
A meteor streaks through the sky during the Perseid meteor shower above the village of Hajnacka in Slovakia, Aug. 13, 2018. It takes 133 years to ellipse the Sun and this is the first year it has passed into the inner solar system since 1991.

The light of your smartphone is making you blind, study reveals
John Payton, visiting assistant professor in the UT Department of Chemistry and Biochemistry, said. Macular degeneration is caused by the death of photoreceptors, a kind of light-sensitive cells.

Li Bin, founder and CEO of NIO Automobile, said in an open letter in the foreword of the prospectus that 50 million shares, i.e. one-third of the total shares, will be transferred to "user trust fund".

As Elon Musk's plan to take Tesla private continues to dominate the news, Chinese electric-car startup Nio is planning to go public. Musk announced on his Twitter account last week that he will take Tesla private so that the carmaker can "operate at its best, free from as much distraction and short-term thinking as possible".

The four-year-old start-up is among a rising wave of "Tesla challengers", which include fledgling carmakers such as Byton, WM Motor and Xpeng. Additionally, changes to government policies that help the sales of electric and Chinese-made cars could also cause problems, as could the U.S.

FILE PHOTO - The logo of electric vehicle startup NIO is seen at a new NIO House "brand-experience" store, in Beijing, China November 25, 2017. "Many of our current and potential competitors, particularly global competitors, have significantly greater financial, technical, manufacturing, marketing and other resources than we do". The next model will be a small SUV called the ES6. The new auto will be officially delivered in the first half of next year.

Related News:

  • FDA Approves First Mobile App for Use in Preventing Pregnancy

    FDA Approves First Mobile App for Use in Preventing Pregnancy

    Even though Natural Cycles claims to be an effective contraceptive, it's not 100 percent fool-proof when used by itself. During clinical trials the app had a "perfect use" failure rate of 1.8%.
    Johnny Depp claims ex Amber Heard left 'Revenge Poo' in marital bed

    Johnny Depp claims ex Amber Heard left 'Revenge Poo' in marital bed

    Amber and Johnny split back in 2016 following a four-year relationship. 'It was an innocent thing, it's what pets will do. She rescinded the request for a restraining order when their divorce was settled.
    Emergency warning issued for out-of-control bushfire in NSW

    Emergency warning issued for out-of-control bushfire in NSW

    That contingent is helping to co-ordinate responses to huge blazes that continue to burn in California and other U.S. states. Although the Clarence Valley fire at Bristol Arms Road is burning close to some properties, they are not now under threat.
  • Italian motorway operators’ shares plummet after deadly bridge collapse

    Italian motorway operators’ shares plummet after deadly bridge collapse

    Rescuers searched overnight for survivors through tons of concrete and steel under the shattered structure of the Morandi Bridge. Some of the wreckage landed in a dry riverbed that could flood when the rainy season resumes in a few weeks.
    Women Say They Were Denied Jobs Because They Had ‘Ghetto’ Names

    Women Say They Were Denied Jobs Because They Had ‘Ghetto’ Names

    Robinson, meanwhile, told The Post Wednesday that she's still reeling from the pure hatred exposed in the hacked message. Louis County's cyber crime division, and that he was waiting for Indeed.com to provide the IP address of the hacker.
    India to send manned mission to space by 2022: Modi

    India to send manned mission to space by 2022: Modi

    Lalithambika, a specialist in advanced launcher technologies, will helm the project as Director of the Human Space Flight Project. India's space programme, under policies set by its earliest architects, had for decades focused on ground applications of space.
  • Aretha Franklin, the 'Queen of Soul,' has died at 76

    Aretha Franklin, the 'Queen of Soul,' has died at 76

    Philip Phillips of Karmanos Cancer Institute" in Detroit. "I'm just so sad that we had to lose her", Black said. Funeral arrangements will be announced in the coming days. "For more than 50 years, she stirred our souls".
    USA  ex-spymaster says Trump colluded with Russian Federation

    USA ex-spymaster says Trump colluded with Russian Federation

    White House spokeswoman Sarah Huckabee Sanders announced the decision at a White House briefing Wednesday. Nancy Pelosi, the House Democratic leader, says Trump's move is a "stunning abuse of power".
    NYU's Amazing RX for Med Students: Full Scholarships for All

    NYU's Amazing RX for Med Students: Full Scholarships for All

    At the same time, all current NYU medical students received emails saying the school is offering them full-tuition scholarships. Rafael Rivera, NYU's associate dean for admission and financial aid", told The Journal.
  • Arrest after dozens overdose in CT park

    Their symptoms included vomiting, hallucinations, high blood pressure , shallow breathing and unconsciousness, ABC News reported. The Courant said authorities had determined that patients had smoked the synthetic cannabinoid K-2 laced with fentanyl.
    Dollar hovers near 13-month peak on concerns over lira

    Dollar hovers near 13-month peak on concerns over lira

    U.S. national security adviser John Bolton on Monday met Turkey's ambassador to the United States to discuss Brunson's detention. It is noted that this decision was taken in response to U.S. sanctions .
    USA  newspapers unite against Donald Trump's 'fake news' rhetoric

    USA newspapers unite against Donald Trump's 'fake news' rhetoric

    For some, including Mr Trump, it will feed the narrative that there is a partisan war between the press and the president. They purposely cause great division & distrust. "THE FAKE NEWS MEDIA IS THE OPPOSITION PARTY", he tweeted.


Most liked

Turkish lira rallies as Qatar makes $15 bil. loan pledge
Turkey's exports to the United States previous year amounted to $8.7 billion, making it Turkey's fifth-largest export market. White House press secretary Sarah Sanders that Washington will withdraw sanctions on Turkey if Brunson was set free.

Man held on suspicion of killing wife, two kids in Colorado
Two law enforcement sources close to the investigation told the station that Watts confessed to killing his family. Falls said he didn't meet Watts and that an agent handled the closing for her. "I don't know where she's at".

Overdose total hits 76 in Connecticut park
While no deaths were reported, a local official says at least two of the overdose victims had "life-threatening symptoms". Connecticut Public Radio 's Diane Orson reports that at least one person has been arrested in connection with the case.

Saudi Arabian Regulators Reiterate Ban on Cryptocurrency Trading
The committee indicated that apart from cryptocurrencies, they are also targeting unregulated forex trading in the country. For clarity purposes, investors should refer to the relevant government's entity website for details of licensed entities.

Madonna at 60: Material Girl through the decades
Of course, it wouldn't be Madonna without a little controversy. "You have haunted my dreams since I was 13". Madonna is the best-selling female recording artist of all time with estimated sales of over 300 million.

'Storm Ernesto' looks set to hit Ireland this weekend
Lane is now forecast to become a hurricane on Friday and could become a major hurricane over the weekend. As far as the weather expected for the weekend is concerned, here's what Met Éireann have said.

Bob Zimmer: Sir John A. Macdonald's legacy must stand, warts and all
Ontario Tourism Minister Sylvia Jones said Monday the province would be happy to have the statue of Sir John A. A plaque placed at the statue's former home, explaining the monument's removal, has since been vandalized.

Here are the best hospitals in SC, according to new U.S
News & World Report's rankings of best regional hospitals, knocking Kaiser Permanente Roseville Medical Center off the list. Carmichael's Mercy San Juan Medical Center and Sutter Roseville Medical Center claimed spots this year on U.S.

Comcast expands internet program to veterans
The expansion could make as many as 32,000 low-income veterans in New England eligible for the program, the company said. A program that gives low-income families affordable access to the internet is expanding.

Turkish courts release detainees but reject United States pastor's appeal
Turkey's exports to the United States a year ago amounted to $8.7 billion, making it Turkey's fifth-largest export market. The White House called the Turkish response a step in the wrong direction and signaled a hard line on Brunson's release.

FDA issues voluntary recall for two thyroid medications
The FDA statement says that Westminster Pharmaceuticals has been recalling all lots of the said tablets within their expiry dates. The recall affects both medications in their tablet form, which come in 15 mg, 30 mg, 60 mg, 90 mg and 120 mg dosages.

Keith Hernandez supports drilling Acuna: 'You've got to hit him'
Acuna had hit leadoff homers in his three previous games, all against the Marlins, including a doubleheader Monday. Snitker and Ureña were then ejected from the game and Elieser Hernandez entered in Ureña's place.

Aretha Franklin dead: Queen of Soul passes away at age 76
Franklin racked up a string of awards and accolades over her decades-long career for hits like " Respect " and " Chain of Fools ". She cancelled planned concerts earlier this year after she was ordered by her doctor to stay off the road and rest up.

Report claims China printing Indian currency, govt denies
The Reserve Bank of India has time and again asserted that the country's currency gets printed only within India . The BRI focuses on improving connectivity and cooperation among Asian countries, Africa, China and Europe .

Queen of Soul Aretha Franklin has died
Singer Aretha Franklin performs during a concert at Madison Square Garden on June 28, 1968 in New York City, New York. She received our nation's greatest honor in 2005 when she was presented with the Presidential Medal of Freedom.