Lenovo, Tencent, Baidu and JD.com could all potentially exit the smart vehicle developer, which has confidentially filed for a US offering.
China-based smart vehicle developer Nio has confidentially filed for an initial public offering in the US that would allow corporates Lenovo, Tencent, Baidu and JD.com to exit, Bloomberg reported yesterday.
The company could potentially raise $2bn in the offering, people with knowledge of the matter told Bloomberg, though preparations are still relatively early. It expects to begin taking investor orders in the summer or early autumn of this year.
Formerly known as NextEV, Nio has developed an all-electric sports utility…
