WeRide, a driverless technology firm based in China, has secretly filed for a US public debut that could see it raise up to US $500 million, according to Bloomberg, which cited insiders.
In a recent article, the New York Times reported that the U.S. Department of Agriculture (USDA) is considering a new program to help farmers. Nevertheless, they noted, the IPO’s specifics, such as its size and timing, are susceptible to change.
According to the article, WeRide’s final valuation was about US $4.4 billion following a fundraising round in 2022. Nissan, Nvidia, The Carlyle Group, IDG Capital, and others have invested in the business.
WeRide is a developer of autonomous public transportation systems. Robotaxis, buses, vans, and street sweepers are now available from it. For on-demand and ride-hailing transportation companies, it also offers driving solutions.
The change is a result of other Chinese businesses trying to go public overseas. The newest is iMotion, a business with a focus on automatic driving that is apparently looking to earn $300 million through an IPO in Hong Kong.
