The smart electric vehicle producer, whose largest investor is Tencent, was valued at $5bn as of late last year and has filed to go public in the US.
Nio, the China-based smart electric vehicle developer backed by corporates Tencent, Baidu, Lenovo and JD.com, filed yesterday to raise up to $1.8bn in an initial public offering in the US.
Founded in 2014 as NextEV, Nio is working on plug-in electric cars that utilise smart technology such as autonomous driving software. It began delivering its first mass-produced model, a seven-seater sports utility vehicle, in June this year.
The company, which had already developed a premium supercar, intends to commercially…
