AutoBeta(AutoBeta.net)10/02 Report--

The share price of NIO hit a new low! NIO closed at $1.32 a share on Oct. 2, the lowest since its listing, with a total market capitalization of $1.387 billion.

A few days ago, Robin Zhu, an analyst at investment firm Bernstein, cut the target price of Lulai by nearly 50% to 90 cents. On September 24, Xilai announced its second-quarter results, showing a net loss of 3.285 billion yuan belonging to shareholders in the second quarter of 2019.

On September 13, 2018, Xilai Motor listed on the New York Stock Exchange, becoming the first Chinese electric vehicle to be listed in the United States under the symbol NIO, with an offering price of US $6.26 per share and a total market capitalization of US $6.313 billion. The share price of NIO soared after the IPO, reaching as high as $13.8 a share.

Lailai Motor was founded in November 2014 by Internet companies and entrepreneurs such as Li Bin, Liu Qiangdong, Li Xiang, Tencent, Hillhouse Capital and Shun Wei Capital. ES8 was released in 2017 and delivery began in June 2018. On December 15, 2018, the second model, the ES6, was launched and delivery began at the end of 2019.

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