Nio, a Chinese electric car manufacturer, filed to go public on the New York Stock exchange, hoping to raise as much as $1.8 billion for their initial public offering, according to CNBC.
Nio made deliveries of its first volume manufactured vehicle in June. The $67,000, seven-seat ES8 will be followed by the ES9 SUV in 2019 and the ET7 sedan in 2020. The company is only delivering vehicles within China and does not plan to expand to the U.S. market.
"We are generally targeting to launch a new model every year in the near future as we ramp up our business," Nio said in its filing, according to CNBC.
Nio has over 6,200 employees and had a net loss of $502.6 million with less than $7 million in revenue in the first half of 2018.