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Automotive

Reuters first to report Chinese EV trio eye HK listings this year to raise combined $5 billion

Reuters was first to report that three U.S.-listed Chinese electric vehicle (EV) makers – Li Auto Inc, Nio Inc and Xpeng Inc – plan to list in Hong Kong as soon as this year, tapping a growing investor base closer to home. The trio each aim to sell at least 5% of enlarged share capital in the Asian hub, Reuters sources said. The plans come as the trio increase capital raising efforts to fund technology development and expand sales networks, to better compete in the world’s biggest EV market where U.S. peer Tesla Inc is boosting sales of its China-made vehicles.

Article Tags
Topics of Interest: Automotive
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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