BEIJING -- Chinese automakers Nio, Xpeng Motors and Li Auto together have raised roughly $12.5 billion on the U.S. market in 2020, taking advantage of growing investor interest in electric cars sparked by the recent surge in Tesla's stock.
China's electric vehicle market is approaching a major crossroad, as a key government subsidy expires after 2022 and new players rush in for a piece of the pie. The three companies are eager to take funds raised in the U.S. to expand their sales networks and turn a profit to survive this shift.
