Bosch-Backed Autonomous Driving Startup From China Mulls $500M IPO

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China-based Guangzhou WeRide Technology Co is considering a potential $500 million initial public offering, Bloomberg reported citing people familiar with the situation.
The driverless technology startup is working with advisers on the potential listing and is weighing the U.S and Hong Kong markets.
According to the people, if WeRide chooses the U.S. listing, it could face significant challenges from Chinese regulators.
The robotaxi company could file for the IPO probably by September and aim for a listing as early as this year. After the latest round of funding of $400 million, the five-year-old unicorn is valued at about $4.4 billion.
Backed by the Renault-Nissan-Mitsubishi Alliance and Guangzhou Automobile Group, WeRide received a strategic investment from Bosch in May to develop autonomous driving software jointly.
Founded in 2017, WeRide develops autonomous driving technology and is testing the technology in 23 cities globally.
In addition to its full-stack software and hardware solutions, it produces autonomous vehicles, including robotaxis, mini buses, vans, and street sweepers.