This is Nio's latest move after raising RMB 1 billion in an ABS issue last year, meaning it has established direct access to financing in both China's exchange and interbank markets.

Notably, on February 28, Nio announced it had applied to list its issued Class A ordinary shares in Hong Kong by way of introduction.

These shares will be listed on the main board of the Hong Kong Stock Exchange as a secondary listing and they are expected to commence trading on Thursday, March 10, 2022, subject to final approval.

Both Xpeng Motors and Li Auto have already been listed in Hong Kong last year by way of dual primary listings, following a complex process and both issuing new shares. Nio has adopted a different approach to its secondary listing and does not involve any new issue of shares.