Beijing Electric Vehicle Company (BJEV), controlled by Chinese automaker BAIC group, is planning to raise US$460m in an initial public share offering (IPO) to fund expansion of its electric vehicle (EV) operations – according to local reports.

The funds will also be used to cut debt and generate working capital. The company expects the rapid growth in China's EV segment will attract strategic investors.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

BJEV is 60%-owned by BAIC group, with local technology company LeEco Holdings Company and local municipal companies among its minority investors. 

The company sold 20,000 EVs last year and this is set to more than double to 55,000 units in 2016 and to around 70,000 units by 2020, according to a company insider. 

BJEV is also developing a plug-in hybrid vehicle for the local market.