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Companies

China's NIO heads opposite way to 'rival' Tesla with New York listing

IPO aims to raise $1.8bn as Elon Musk hints at going private

By focusing on high-end vehicles, Nio has positioned itself as China's answer to Tesla.   © Reuters

NEW YORK -- Chinese electric-vehicle startup NIO aims to raise up to $1.8 billion through its initial public offering in the U.S.

The company, which often cites Tesla as its main rival, filed plans to list on the New York Stock Exchange with the U.S. Securities and Exchange Commission on Monday.

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