WeRide, a Chinese developer of autonomous vehicle systems and software, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
WeRide is developing autonomous driving products and services, including Level 4 autonomy. It is currently operating and testing its products throughout 30 cities in 7 countries, and also offers paid autonomous robotaxi services to the public. It has accumulated 10,000 vehicle orders. It also sells robobuses, robosweepers, and related sensor suites.
The Guangzhou, China-based company was founded in 2017 and plans to list on the Nasdaq under the symbol WRD. WeRide filed confidentially on February 23, 2023. Morgan Stanley, J.P. Morgan, and CICC are the joint bookrunners on the deal. No pricing terms were disclosed.
