Tesla’s Chinese rival Nio climbs back after rocky start on Wall Street

by bold-lichterman

While Washington and Beijing are slashing against the backdrop of a trade war between the United States and China, more and more Chinese firms are exporting to Uncle Sam’s country to go public on Wall Street. Beyond the interest of the companies of the Middle Empire for the American market, these IPOs represent above all an opportunity for the Chinese giants, Baidu, Alibaba, Tencent and Xiaomi, the famous BATX, to position themselves against all- powerful American GAFAs.Apple-converted-space “>

As a direct result of this timid start on Wall Street, the Chinese company managed to raise a billion dollars as part of its IPO when the initial target was set at 1.8 billion dollars. It is a blow to this company, which appears to be one of the best Chinese prospects for dominating the electric car market on a global scale. However, the company founded in 2014 by William Li was not helped by the context surrounding its IPO, mainly due to the escapades of Elon Musk, who considered removing Tesla from the New York stock market, and the difficulties for the American firm to achieve its production targets.