Chinese electric vehicle maker Li Auto files for US listing | The Daily Star
12:00 AM, July 12, 2020 / LAST MODIFIED: 12:26 AM, July 12, 2020

Chinese electric vehicle maker Li Auto files for US listing

Chinese electric vehicle (EV) maker Li Auto Inc, backed by food delivery giant Meituan Dianping, has filed for a US initial public offering.

The move, announced on Friday, comes as share prices of EV makers including Tesla Inc and Nio Inc have surged in recent months.

Five-year-old Li Auto, formerly known as CHJ Automotive, is building Li ONE extended-range electric sport-utility vehicles in China's eastern city of Changzhou.

Unlike rival Tesla and Nio's pure battery electric vehicles, Li ONE allows drivers to charge their cars with electricity or gasoline. Li Auto has 21 showrooms in China, the world's biggest auto market, and aims to operate 60 by the end of this year. The Beijing-based company, led by chief executive Li Xiang, sold 9,666 vehicles in the first six months this year.

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