TL;DR
- Nio will be listed on the Singapore Exchange on 20 May. This will be a secondary listing for the Chinese electric vehicle (EV) maker whose primary listing is in the US.
- The EV sector is facing some challenges currently from rising raw material costs and supply chain constraints. Nio’s share price has also fallen by 75% in the past year as a result.
- In the long term, the EV sector remains promising as car sales could rise exponentially. Nio is currently loss making, but targets to breakeven by the fourth quarter of next year as it ramps up on production.
- Nio might be in for a bumpy ride over the next few quarters. This is especially so if Chinese regulations remain unclear and the tech selloff continues.
What happened?
Here’s the news – Chinese electric vehicle maker Nio will be listed on the Singapore Exchange on 20 May (Friday).
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