China’s electric SUV maker Li Auto raises $1.1 billion in US IPO

Trade tensions in between China and the U.S. have actually not stopped Chinese companies from considering to list on American stock exchanges. Li Auto, a five-year-old Chinese electric lorry start-up, raised $1.1 billion through its launching on Nasdaq on Thursday. The Beijing-based company is targeting a growing Chinese middle class that aspires to drive cleaner, smarter and […] The six-year-old competitor stated last year it might consider an IPO. Li Car, for instance, counts China’s food shipment magnate Wang Xing, manager of Meituan Dianping, as its second-largest investor after its CEO Li Xiang. As my colleague Alex pointed out, Li Vehicle is on a trajectory comparable to that of its peer Nio, going public after a short history of delivering to consumers. Its annual earnings– comprised primarily of car sales and a small part from services like charging stalls– stood at 284 million yuan ($40.4 million) in 2019, a tiny portion of Nio’s$1.12 billion. Li Vehicle, a five-year-old Chinese electrical lorry start-up, raised $1.1 billion through its launching on Nasdaq on Thursday….