Leapmotor won approval from the Hong Kong stock exchange on Monday for its planned listing in the city, becoming the latest Chinese electric vehicle startup to cash in a consistent wave of hype and investment in the space following Nio, Xpeng Motors, and Li Auto. Insiders have forecasted that its IPO could raise at least $1 billion and the company plans to schedule its debut for September, SCMP reported on Friday, citing an anonymous source. Rival WM Motors, backed by tech giant Baidu, also applied for the right to trade shares in Hong Kong in June though is yet to be given the green light. [Leapmotor filings, in Chinese]
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