Tencent-backed electric car startup to file for IPO

Jamie McKane

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Tencent-backed electric car startup to file for IPO

NIO, the Chinese electric-vehicle startup backed by Tencent Holdings Ltd., has filed confidentially for a planned U.S. initial public offering, people with knowledge of the matter said.

The Shanghai-based carmaker has submitted an initial confidential filing with the U.S. Securities and Exchange Commission, according to the people, who asked not to be identified because the information is private.

[Bloomberg]
 
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