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Chinese EV maker Li Auto files for US listing

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BEIJING: Chinese electric vehicle (EV) maker Li Auto Inc, backed by foodstuffs delivery giant Meituan Dianping, has filed for typically the US initial public giving.

The move, announced with regards to Friday, comes as share prices of EV makers and Tesla Inc and Nio Inc have surged recently.

Five-year-old Li Auto, in the past CHJ Automotive, is definitely creating Li ONE extended-range electric powered sport-utility automobiles around China’s eastern city of Changzhou.

Unlike rival Tesla and even Nio’s pure battery electric powered vehicles, Li ONE permits individuals to charge their particular automobiles with electricity or maybe gas. Li Auto possesses 21 showrooms in China plus taiwan, the world’s greatest vehicle market, and should perform 60 by the end with this season.

The Beijing-based business, directed by chief executive Li Xiang, sold 9,666 autos in the first 6 months in 2010. China’s entire electric automobile market, however, fell for the 12th straight 30 days throughout June.

In the processing to US Stock options plus Exchange Commission, Li Auto said it plans for you to list its stocks around the Nasdaq under typically the mark “LI” .

Goldman Sachs, Morgan Stanley and UBS are definitely the underwriters for the W?RSENGANG.

Reuters reported inside the month of january that will Li Auto registered for a US preliminary general public offering, aiming to boost a minimum of $500 million, citing men and women familiar with the matter.

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