NIO

Chinese EV manufacturer NIO on the heels of officially filing for a $1.8 Billion IPO set to take place on the NYSE has now been reported by China Money Network to be aiming for a pre-IPO funding round which would value the 4 year old automaker at $6.5 Billion citing Chinese media insiders.

This would see the company currently valued at $5 Billion jump in value before its debut on public markets shortly after beginning sales of its first mass market electric vehicle in China which has clocked well over 1,000 sales last month alone.

For the first half of this year, NIO reported total revenues of just nearly $7 million having not began sales during the period and will have to show good revenues and standing in the EV market to achieve a good value on the stock market as it’s set to become the first Chinese EV unicorn to list on a U.S. stock exchange.

As of July ending, NIO reported it had received over 17,000 reservations for its ES8 vehicle waiting to be fulfilled as the company ramps up production to deliver on time to consumers in the very competitive EV market.

NIO’s most recent round saw it raise $1 Billion with Tencent leading this round for the EV manufacturer formerly known as NextEV which counts the likes of Baillie Gifford, Baidu, IDG, Sequioa, Temasek and several notable names among its backers.

With China being the largest EV market on a global scale, NIO aims to dominate this market as it takes on competition from Tesla, Geely, Byton, Xpeng and other major companies in the region having raised over $2 Billion across several rounds making use of the vast capital to set up locations across key global markets and EV sectors.

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