China’s NIO is arguably the furthest along of all the flashy electric car startups that have formed over the last few years. Now it wants to go public in the United States on the New York Stock Exchange, according to a filing with the SEC this past week. But a close inspection of that document shows the company faces potential roadblocks in both demand for and production of its first car, and it also exposes that the company discovered a crucial financial problem in the months leading up to the IPO.
NIO has come a long way for having such a short history. Founded in 2014, it quickly (in automotive industry timescale) designed and produced a small batch of an all-electric supercar called the EP9, which has already broken a few EV and...
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