Chinese language electric-car maker Li Auto Inc.
LI,
+10.00%
stated late Friday it expects to promote as much as 95 million American depositary shares in a variety between $eight and US$10 in its preliminary public providing. Li Auto filed for the IPO earlier this month. Goldman Sachs, Morgan Stanley and UBS are among the many underwriters. Li’s IPO comes on the heels of current IPO successes for electric-vehicle makers corresponding to Nikola Corp.
NKLA,
-11.84%
and of share rallies for Tesla Inc.
TSLA,
-6.34%
and Nio Inc.
NIO,
-2.71%,
additionally a Chinese language EV maker. Li stated it began quantity manufacturing of its first mannequin, an SUV known as Li One, in November 2019, and that it has delivered greater than 10,400 Li One automobiles as of June 30. Li stated it focuses on SUVs costing between $21,000 and $70,000, looking for to supply prospects “unparalleled worth for cash with the efficiency, performance, and cabin-space of a big premium SUV however pricing near a compact premium SUV,” it stated.
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