Chinese electric vehicle maker shares NioAfter choosing a shorter route to listing, which didn’t require raising additional funds, the company began trading on Hong Kong’s stock exchange on Thursday.

This path is also known as “a listing by way of introduction” and allowed Nio to start trading in less than 2 weeks following its announcement to list in Hong Kong. In its closing price, the stock was HK$158.90 first day of trading, compared with a close at $20.17 ($HK157.72 for New York-listed American Depositary Shares on Wednesday.

Nio’s U.S. shares rose to close higher by 12.2% Wednesday but are still down 36.3% for the year as of Wednesday’s close.

Nio has joined a growing group of U.S. Chinese-traded companies that chose to list on Hong Kong’s exchange in recent weeks. It is seen as a hedge against delisting from U.S. stock exchanges due to growing tensions with China. Nio shares two U.S. domestic counterparts. XpengAnd Li AutoBoth listed at the Hong Kong Exchange last year.

Chinese ride-hailing company DiDi GlobalUnder pressure from its government home, the company announced plans to delist from the New York Stock ExchangeIn December

Both Xpeng, and Li Auto took a more traditional route to listing their Hong Kong businesses. They raised $2.1 billion and $1.5 million respectively. Nio ended the third quarter 2021 with $7.3billion in cash and added $1.7billion in an at-the market offering in New York. However, the Hong Kong trading debut didn’t require additional cash.

After the U.S. market closes March 24, Nio will release its full-year and fourth quarter earnings in 2021.