Beijing time news on July 31, Beijing time, the first day of the listing of ideal automobile in the United States closed up 43.13%, to 16.46 U.S. dollars, the IPO price was 11.50 US dollars. At present, the market value of ideal automobile is 13.9 billion US dollars, which is close to the 14.4 billion dollars market value of Weilai automobile. According to the prospectus, ideal auto is expected to issue 95 million American Depository shares (ads) in the IPO, with each ads equivalent to two class a common shares.

Goldman Sachs, Morgan Stanley, UBS and CICC are the co lead underwriters of the IPO, tiger securities and Xueying securities are the Deputy underwriters. The underwriters have a total of 14.25 million ads over allotment rights.

according to the prospectus disclosed before the IPO of ideal automobile, Li Xiang holds 25.1% of the shares and 70.3% of the voting rights; Wang Xing holds 8.9% of the shares, with 3.5% of the voting rights; Yanan Shen holds 1.1% of the voting rights, with 0.4% of the voting rights; Tie Li holds 1% of the voting rights, with 0.4% of the voting rights.

ideal car was founded in July 2015, and the first product ideal one was released in October 2018. It is equipped with extended range electric technology and intelligent technology to provide 6-seat and 7-seat comfortable space for family users.

the product will be put into mass production on November 20, 2019, and will be delivered to users in December 2019. By June 2020, the total number of users delivered by ideal one has exceeded 10000.

as of June 2020, ideal automobile has opened 21 retail centers in 18 cities in China, covering cities including Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Hangzhou, Nanjing, Suzhou, Tianjin, Wuhan, Xi’an, Zhengzhou, Chongqing, Changsha, Jinan, Ningbo, Shijiazhuang and Qingdao.