Tesla Rival Nio's LiDAR Supplier Receives Hong Kong Stock Listing Approval Through SPAC

Group 1 - Seyond Holdings Ltd., the LiDAR supplier for Nio Inc., has received approval for its Hong Kong stock listing through a SPAC merger with TechStar Acquisition Corporation, allowing for the listing of up to 190,240,000 shares [1][2][3] - The China Securities Regulatory Commission (CSRC) requires Seyond to report on the status of the listing completion within 15 business days [3] - Seyond has been supplying LiDAR technology to Nio since the launch of the ET7 model in 2022 [3] Group 2 - The successful Hong Kong debuts of battery giant Contemporary Amperex Technologies Ltd. (CATL) and Chery Automobile highlight a positive trend in the market, with CATL raising over $4.6 billion and Chery raising over $1.2 billion through their IPOs [4] - CATL's share price increased by 12.5% from its initial price, while Chery's shares rose to HK$34.16 [4] Group 3 - Tesla Inc. reported a significant 126% increase in sales in China during the week of October 6 to October 12, delivering 71,525 units in September, marking its second-highest sales tally in the region [5] - Hesai Group, a competitor of Seyond, announced a $40 million deal to supply LiDAR sensors to a U.S. Robotaxi company, indicating ongoing demand in the LiDAR market [6]