WeRide Targets $5B Valuation in U.S. IPO Amid Autonomous Driving Investment Surge

Chinese autonomous vehicle startup WeRide aims to raise $120 million in a challenging IPO market, with significant private investments lined up.

WeRide plans to offer 6.45 million American depositary shares priced between $15.50 and $18.50 each.
The company has secured an additional $320 million through private investments from major backers like Renault Nissan Mitsubishi Alliance.
WeRide operates autonomous vehicle services in 30 cities across seven countries, including robotaxi, robobus, and delivery van services.
It reported a revenue of $55 million in 2023 but remains unprofitable, with a net loss of $69 million last year.
A successful IPO could potentially rejuvenate the sluggish tech IPO market, attracting more public offerings.