Tesla rival lowers targets a bit on its upcoming IPO

Nio Inc., the Chinese electric car maker whose U.S. headquarters is in San Jose, set price targets for its upcoming IPO that are lower than it initially projected. The Tesla Inc. rival said in a filing on Tuesday that it hopes to raise up to $1.5 billion, down from $1.8 billion when it first filed two weeks ago. It launched an investor road show in Hong Kong on Wednesday and plans its Wall Street debut in the middle of next month. Nio said it will offer 160 million American depositary shares for…

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Tesla rival lowers targets a bit on its upcoming IPO

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