- 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.
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The Tesla of China fails to raise the $1.8 billion it targeted in its US IPO (NIO)
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.
Shares of Nio debut with a sell-off, opening at
While Nio just
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