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While Tesla Goes Private Its Chinese Rival Goes Public

Aug. 19, 2018 6:35 PM ET by Jared Rosenholtz Industry News / 4 Comments Will Tesla finally have some true competition? Telsa isn't just a car company, it is a subject of conversation as every new car reveal, production delay, and tweet from CEO Elon Musk causes the stock price to change. Musk is tired of it and has made a surprising move to take the company private. Nothing is set in stone, but Saudi Arabia has already been rumored as a potential buyer. While Tesla attempts to go private, one of its rivals in China - a company called Nio - is attempting to go public. Bloomberg reports that the Chinese automaker has applied to list its shares on the New York Stock Exchange under the symbol NIO with a placeholder value of $1.8 billion. Nio Nio is one of many Chinese startup companies attempting to develop electric cars, but this company looks like one of the few that will survive in the long term. Nio already produces the ES8 SUV, which boasts an impressive range of up to 311 miles as well as 643 horsepower and 619 lb-ft of torque. Of course, the company has also produced a 1,342 hp supercar called the EP9, which has already broken the Hillclimb record at Goodwood. This initial public offering (IPO) should help Nio produce more consumer-oriented cars in greater numbers. Nio The IPO is being led by Morgan Stanley, Goldman Sachs, JP Morgan Chase, Bank of America Corp, Deutsche Bank, Citigroup, Credit Suisse Group, and UBS Group. This will be the first move of many before Nio is able to sell cars in the US, but it does show that a Chinese automaker is well on its way to becoming successful. Nio Nio

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Tesla Model X Jared Rosenholtz Editor-at-Large After graduating with an MBA, Jared pursued his love of cars by becoming an automotive journalist. An internship with CarBuzz grew into his current position as Editor At Large. Jared now spends most of his time evaluating new vehicles and chasing the latest news stories in the automotive industry. When he’s not attending Cars & Coffee events on the weekend, Jared loves to watch NFL football and cruise around with the top down in his German convertible. Contact Jared @Carsnbites @jar_rosenholtz LoginSign Up Home News Features Car Reviews Car Advice 2021 CarBuzz Awards New Cars Used Cars Future Cars Compare Cars Sell My Car Car Dealerships Buy Here Pay Here Used Car Reviews Popular Tags Cars # Video # TOP # Spy Shots # Reveal # Rumor # Auto Show # Supercar # Tuning # Car Culture # Industry News # Motorsport Acura Alfa Romeo Aston Martin Audi Bentley BMW Bollinger Bugatti Buick Cadillac Caterham Chevrolet Chrysler Dodge Ferrari Fiat Fisker Ford Genesis GMC Hennessey Honda Hyundai Infiniti Jaguar Jeep Karma Kia Koenigsegg Lamborghini Land Rover Lexus Lincoln Lordstown Lotus Lucid Motors Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Pagani Polestar Porsche Ram Rimac Rivian Rolls-Royce Spyker Subaru Tesla Toyota Volkswagen Volvo By Make Acura Alfa Romeo Aston Martin Audi Bentley BMW Bollinger Bugatti Buick Cadillac Caterham Chevrolet Chrysler Dodge Ferrari Fiat Fisker Ford Genesis GMC Hennessey Honda Hyundai Infiniti Jaguar Jeep Karma Kia Koenigsegg Lamborghini Land Rover Lexus Lincoln Lordstown Lotus Lucid Motors Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Pagani Polestar Porsche Ram Rimac Rivian Rolls-Royce Spyker Subaru Tesla Toyota Volkswagen Volvo By Car Type SUVs Crossovers Sedans Coupes Trucks Sports Cars Wagons Vans Hatchbacks Convertibles Small Cars Luxury Cars Electric Cars Hybrid Cars Future Cars By Price Up to $15K $15K - $25K $25K - $35K $35K - $45K $45K - $55K $55K - $75K $75K - $100K $100K - $200K $200K - $300K Above $300K Back To Top