China’s electric SUV maker Li Auto raises $1.1 billion in U.S. IPO
The six-year-old rival stated last year it might think about an IPO.
Customers evaluating Li Auto’s SUV in China. Its annual earnings– comprised mostly of automobile sales and a small portion from services like charging stalls– stood at 284 million yuan( $40.4 million )in 2019, a small portion of Nio’s$ 1.12 billion.
The six-year-old competitor stated last year it might think about an IPO. Li Auto, for circumstances, counts China’s food delivery magnate Wang Xing, employer of Meituan Dianping, as its second-largest shareholder after its CEO Li Xiang.
Customers testing Li Auto’s SUV in China. Its annual earnings– consisted of primarily of automobile sales and a little portion from services like charging stalls– stood at 284 million yuan( $40.4 million )in 2019, a tiny portion of Nio’s$ 1.12 billion. In contrast , Tesla has been lucrative for four straight quarters.