Xpeng Motors CEO and Chairman He Xiaopeng speaks during a G3 car launch ceremony in Guangzhou, Guangdong province, China December 12, 2018. Picture taken December 12, 2018. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT. - RC16FB499BD0
Nio is now worth $70 billion, 10 times its market value at the time of its 2018 initial public offering on the New York Stock Exchange. The company run by William Li, along with Li Auto and Xpeng, which listed in 2020, have rustled up close to a total of $15 billion in U.S. markets over the past three years.
That could change. Last year, nine U.S.-listed Chinese companies used the city’s bourse to raise close to $17 billion, according to KPMG. More are coming: Baidu raised over $3 billion in a secondary listing on Wednesday, the same day video-sharing site Bilibili launched an issue for a similar amount. This suggests the market could easily supply Nio, Li Auto and Xpeng’s needs. And there’s plenty of demand for cash.
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