Nio may list new entity on the stock market

Electric vehicle maker Nio’s CEO said it may list a new Nio China entity as the cash-strapped company eyes a rebound after selling fewer vehicles during the coronavirus outbreak. Nio secured a 7-billion-yuan ($989 million) investment in Nio China from state-controlled investors last month. The company will make a comprehensive decision about a stock market listing based on capital market conditions, CEO William Li said on an earnings call Thursday. Nio’s revenue stood at 1.37 billion yuan in the first quarter, the company reported earlier, compared with an average analyst estimate of 1.67 billion yuan, according to IBES data from Refinitiv.