Li Auto, which manufactures smart electric SUVs in China, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company designs, develops, manufactures, and sells premium smart electric SUVs. It states that it is the first to successfully commercialize extended-range electric vehicles in China. It started the volume production of its first model, Li ONE, in November 2019 and has delivered over 10,400 units as of June 30, 2020.
The Beijing, China-based company was founded in 2015 and booked $163 million in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol LI. Li Auto filed confidentially on December 6, 2019. Goldman Sachs, Morgan Stanley, UBS Investment Bank, and CICC are the joint bookrunners on the deal. No pricing terms were disclosed.
