Weilai Auto IPO plans to hire 8 investment banks to prepare for further
Weilai Auto has taken a major step forward in its IPO plans, as the Chinese electric vehicle startup has enlisted eight top-tier investment banks, including Goldman Sachs and Morgan Stanley, to help accelerate its listing in the United States. The company is reportedly aiming to go public in the U.S. later this year.
According to sources familiar with the matter, Nio, also known as Weilai Auto, has engaged a team of financial experts to prepare for its upcoming initial public offering (IPO). The company is expected to raise up to $2 billion through the IPO, signaling strong confidence in its future growth and market potential.
In addition to Goldman Sachs and Morgan Stanley, other investment banks involved in the process include Bank of America Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank, JPMorgan Chase, and UBS. These firms are likely to play key roles in structuring the deal and managing investor relations.
When asked about the IPO plans, Weilai Auto declined to make any official comments. Similarly, UBS did not provide a statement, while other banks either did not respond or were unavailable for comment at the time of the report.
Based in Shanghai, Weilai Auto was founded in 2014 by Li Bin, a prominent Chinese internet entrepreneur. The company has attracted significant investment from major players such as Tencent Holdings, Gaochun Capital, and Sequoia Capital. Its growing list of investors includes well-known names like Joy, Gaoling, Huaping, and Temasek.
In November of last year, Weilai completed a massive funding round of over $1 billion led by Tencent. Additional investors included Baillie Gifford, Lone Pine, CITIC Capital, and Huaxia Fund. This latest round brought the company’s valuation to more than $20 billion, highlighting its rapid growth and strong market position.
Originally established with the support of Li Bin, Liu Qiangdong, Li Xiang, Tencent, Gaochun Capital, and Shunwei, Weilai Auto has expanded its operations across multiple global locations, including Shanghai, San Jose, Munich, and London. The company now employs over 3,000 people and continues to invest heavily in design, research and development, and production to maintain its competitive edge in the fast-evolving electric vehicle industry.
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