NIO Successfully Lists in Singapore, to Set Up Local R&D Center
Chinese EV maker NIO successfully listed on the main board of the Singapore Exchange (SGX) on Friday, beginning trading under the ticker symbol “NIO.” This makes it the first Chinese company to be listed in New York, Hong Kong and Singapore at the same time.
On March 10 this year, NIO completed its second listing on the Hong Kong Stock Exchange (HKEx). As in Hong Kong, NIO‘s Singapore listing was by way of introduction, and it did not involve new share issuance and fundraising. Its Class A shares listed on the New Stock Exchange can be completely converted from its American Depositary Receipts.
William Li, the founder, chairman and CEO of NIO, said: “Today is a new milestone for NIO, and listing in Singapore is of great significance to our global business development plan. With Singapore’s important strategic position in the global capital market, NIO has further improved the layout in the world.”
SEE ALSO: EV Firm NIO Signs Deal for Phase II of Hefei Factory, Production to Start in 2024
At the same time, NIO will take advantage of Singapore’s international economic and technological center to carry out in-depth cooperation with local scientific research institutions, and establish an artificial intelligence and autonomous driving R&D center in the country.
The latest data show that the delivery volume of NIO in April this year totaled 5,074 units. Since 2022, its cumulative delivery volume has been 30,842 units, a year-on-year increase of 13.5%. As of April 30, 2022, a total of 197,912 vehicles had been delivered. On April 26, NIO‘s 200,000th vehicle rolled off the production line at its Hefei JAC-NIO Manufacturing Base.