Chinese electric vehicle maker Lixiang Automotive, formerly known as CHJ Automotive Chehejia, confidentially filed for a U.S. initial public offering that seeks to raise at least $500 million, Reuters reported Jan. 3, citing sources with knowledge of the matter.
The company made the confidential filing in December 2019 and expects to hold the IPO as early as the first half of 2020, the report said. Lixiang reportedly hired Goldman Sachs to lead the IPO.
Lixiang and Goldman Sachs did not immediately respond to S&P Global Market Intelligence's requests for comment.
In August 2019, Lixiang raised $530 million in a series C financing round led by Meituan Dianping CEO and founder Wang Xing.