Chinese electric-car maker NIO Inc. officially launched on the main board of the Singapore Exchange on Friday, marking its third listing after New York and Hong Kong.
NIO is up 0.96%, while VWO is up 0.62%.
NIO shares are currently traded under the stock code NIO in 10 share increments. Its American depositary shares continue to remain listed and traded on the New York Stock Exchange.
NIO Founder, Chairman, and Chief Executive William Bin Li said the listing strengthens the firm’s footing in global capital markets and leverages Singapore’s “advantageous” position as an international innovation center.
The Chairman said the firm is looking to establish a research and development center in Singapore focused on artificial intelligence and autonomous driving. It will also collaborate with local institutions for research and development.
NIO started the deliveries of the flagship premium smart electric sedan ET7 in March.