That values the company just north of $6 billion, far less than the $20 billion it had hoped for in the early stages. At this price, NIO is around $100 million to $200 million short of where it wanted to be. Yet it burns large amounts of cash and its needs, as we wrote Sept. 4, are only going to get bigger. The company had planned to spend most of its offering proceeds on research and development, and will be around $60 million short there. As we also pointed out, NIO plans to spend $600 million over the year than began in July – and that’s equivalent to its cash on hand as of June.

Source: Washington Post September 12, 2018 06:56 UTC