The Tesla of China fails to raise the $1.8 billion it targeted in its US IPO (NIO)

pulse

September 12, 2018 8:14 PM

Chinese electric-car startup Nio, known as the Tesla of China, started trading in the US on Wednesday and failed to raise the $1.8 billion it targeted in its initial public offering.

Chinese electric-car startup
Nio, backed by Chinese tech giant Tencent, failed to raise the $1.8 billion it targeted during its initial public offering.
Nio's fundraising is an example that shows China's ambition to become a dominant global electric-vehicle producer, Reuters says.

Shares of Nio debut with a sell-off, opening at

While Nio just

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