Chinese electric carmaker Nio has filed for an initial public offering to sell its stock in the U.S., according to a Reuters report Tuesday. The company, which has built a Formula E race car, an exotic electric sports car, and an electric SUV for China, is looking to ramp up production and build a smaller, more affordable SUV. It will trade on the New York Stock Exchange under the symbol NIO. Its ES8 SUV starts at $65,000 in China and aims to take on the Tesla Model X. The company says it has delivered 500 ES8s in China and has orders for another 17,000. DON'T MISS: Nio ES8 electric SUV to go...
Nio ES8 electric SUV to go on sale in China this month; half the price of Tesla Model X
Another day, another electric vehicle from another startup carmaker in China enters the fray. The Chinese company Nio has now officially launched its first vehicle for the masses—an all-electric 480-kilowatt (644-horsepower) SUV to take on Tesla's Model X at just over half the price. The new...Mark Stevenson