Listing

Previously BYD has made a strategic investment in another Chinese lithium producer, Chengxin Lithium, and signed a lithium procurement contract with it.

"Nio has further strengthened its footing in the global capital markets with Singapore's strategic significance," said William Li, founder, chairman and chief executive officer of Nio.

Nio will live-stream its Singapore listing on its website, app and YouTube starting at 8:39 am Beijing Time on Friday.

Nio's Singapore listing will make it the first EV maker in the world to list in three venues.

Nio will be listed in Singapore by way of introduction and has received a conditional listing eligibility letter from the local exchange.

Gotion plans to issue Global Depository Receipts (GDRs) abroad and list them on the Swiss Exchange to accelerate its international strategy.

Nio said it currently has sufficient cash reserves and no immediate need to raise capital in the short term, and the move that could help bring in more investors.

A secondary listing is simpler than a dual primary listing, but at the moment it doesn't allow a company to be included in the mainland-Hong Kong stock connect.

Nio has applied to the Singapore Exchange for a secondary listing by way of introduction, and the exchange is reviewing the application.

Unlike the dual primary listings of Xpeng and Li Auto, Nio will have a secondary listing in Hong Kong and will not issue any new shares.