Lixiang Automotive to be listed in U.S. Nasdaq on July 31th

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Recently, Chinese EV startups have frequently moved into the capital market. After Xpeng Motors announced the completion of its C+ round of financing, Hozon Auto officially launched its C round of financing and plans to list on the SSE STAR Market in 2021. On July 20, Lixiang Auto also reported with the latest news, the company plans to officially list on the Nasdaq market on the evening of July 31, Beijing time, with the stock code “LI”.


In the first quarter of 2020, Lixiang delivered a total of 2,869 new cars, with revenue of 850 million yuan, gross profit of 68.3 million yuan, and a gross profit margin of 8%. Lixiang’s founder Li Xiang said that the company’s current cash flow has turned positive.

Lixiang Automotive to be listed in U.S. Nasdaq on July 31th
Lixiang Auto’s first EV: Leading Ideal One

In the F-1 prospectus previously announced, the proposed fundraising amount for Lixiang Auto as a “placeholder” is US$100 million. As the second Chinese EV startup to go public in the United States after NIO, Lixiang Auto’s actual fundraising scale may reach 500 million U.S. dollars, or it will become the largest amount of IPO funds raised company listing in the U.S. in 2020. The fundraising can be up to 1 billion U.S. dollars, which may tie the actual issuance fundraising quota of NIO when it went public in 2018.

The prospectus shows that Lixiang Auto plans to use the raised funds for new product research and development and to further develop capital expenditures including production equipment and operating capital. In addition, the prospectus also revealed the product plan of Lixiang Auto. It plans to launch a large SUV in 2022 and continue to use the extended-range powertrain.