NIO Seeks to Raise $1.8 Billion in Biggest US Listing by China Automaker

Visitors check NIO ES8 displayed during a media preview of the Auto China 2018 motor show in Beijing, China, on April 25, 2018. Damir Sagolj/Reuters

Chinese electric vehicle startup NIO on Monday filed for a $1.8 billion initial public offering of its American depositary shares, the biggest U.S. listing by a Chinese automaker.

The company, backed by Chinese tech heavyweight Tencent Holdings Ltd, applied for a float of up to $1.8 billion, according to its filing with the Securities and Exchange Commission.