In the great Chinese electric car race, Nio is gambling on using the stock market to help it pull away from the pack.
Nio, a start-up backed by Chinese internet giants Tencent and Baidu, began producing its own vehicles in June, and is now seeking $1.8bn in an initial public offering on the New York Stock Exchange that will help it scale up and develop a suite of new battery vehicles.
It is banking on a surge in electric car sales in China, the price difference between its vehicles and those of its international competitors, its unique customer app and its emphasis on user experience to clean up in a ferociously competitive industry.
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