Article taken from: finance.yahoo.com
Electric car companies’ dash for cash will continue through the Year of the Ox as the capital-intensive industry ploughs billions of dollars into new models and builds infrastructure across the world’s largest car market, China. The single largest investment by the car industry in a century is well under way as electric vehicle (EV) start-ups ramp up production and traditional carmakers, such as BYD and Geely, switch to making EVs from fossil-fuelled internal combustion engines. […] In total it has raised US$7.9 billion from equities investors and US$3.4 billion from debt markets, according to Refinitiv data. […] The Guangzhou company has raised a grand total of US$5.1 billion since the start of 2020 and its American depositary shares have jumped to US$43.41 as of mid February, nearly triple its IPO price of US$15 each. […] The Shanghai-based EV start-up raised US$1.1518 billion in 2018 from its IPO in the United States, the home turf of Tesla.
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