As NIO and Tesla rally, Chinese EV company Lixiang said to file for US IPO
The recovery in value of several high-profile electric car companies could help move yet-private EV manufacturers out of the pit lane and onto the IPO track.
On the heels of NIO’s shocking value appreciation after its recent earnings report, and Tesla’s own public market run, China-based Lixiang Automotive is reported to have filed privately for an IPO in the United States.
It would not be the first Chinese EV company to go public in the United States, as NIO managed the feat in 2018.
To understand the news, we’ll first look at recent happenings from Lixiang’s public peers, and then examine the company itself.
A month ago, the Lixiang Automotive confidential IPO filing would have appeared quixotic.
Notably, similar to NIO when it went public, the company is set to debut while its history of actually delivering cars is nascent.