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WeRide, a Chinese autonomous vehicle startup, is preparing for a U.S. IPO after China eased its ban on foreign IPOs. The company has registered 1 billion American Depository Receipts (ADRs) valued at $50 million, indicating readiness for public trading. Reports suggest WeRide aims to raise up to $400 million through its IPO and private placement.
If successful, this IPO would mark the largest by a Chinese company in the U.S. since Geely's Zeekr. WeRide has raised $1.39 billion at a valuation of $5.11 billion but faces challenges in profitability and competition from other AV companies like Pony.ai. The company is actively testing autonomous vehicles in multiple regions, including California.
• WeRide aims to raise $400 million through its upcoming IPO.
• The IPO could be the largest by a Chinese firm in the U.S. since Zeekr.
S. exchanges. WeRide's registration of ADRs indicates its readiness for a U.S. IPO.
WeRide is developing various AV models, including robotaxis and robobuses.
WeRide's upcoming IPO is significant for its growth and market presence.
The company is preparing for a U.S. IPO to enhance its competitive edge in the market.
ai is a competitor in the autonomous vehicle sector, also seeking a U.S. IPO. The company aims to establish a strong presence in the public market after previous attempts were halted.
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