EV MAKER NIO FILES FOR $1.8 BN IPO

In a bid to grow its business, Nio, a Chinese manufacturer of premium electric vehicles, has filed for a New York Stock Exchange listing to raise up to $1.8 billion. The company launched its $67,000 ES8 in 2017 but started delivery only in June this year. The automaker said it had delivered 481 ES8 vehicles through July and had ‘unfulfilled reservations’ for more than 17,000 EVs.