• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Monday, August 25, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Electric Vehicles

China’s WeRide targets $5bn U.S. IPO amid regulatory challenges

David Ijaseun by David Ijaseun
August 12, 2024
in Electric Vehicles, Premium
0
WeRide
1.1k
SHARES
9.5k
VIEWS
Share on FacebookShare on Twitter

Chinese autonomous driving startup WeRide has announced its plans to raise up to $5.02 billion in a U.S. initial public offering (IPO). The Guangzhou-based company, known for its self-driving taxis, vans, buses, and street sweepers, aims to offer 6.45 million American depositary shares (ADS) at a price range of $15.50 to $18.50 per share, potentially securing $119.4 million in funding.

In addition to the IPO, WeRide has secured commitments for a private placement worth $320.5 million. Notable investors in this round include Alliance Ventures BV, the venture capital arm of the Renault-Nissan-Mitsubishi Alliance, and JSC International Investment Fund SPC. German automotive giant Robert Bosch GmbH has also expressed interest in purchasing up to $100 million worth of shares in the IPO.

READ ALSO

Chevrolet EV truck breaks world record with 1,059-Mile drive on single charge

Honda patents low-cost electric motorcycle set to be a game-changer for riders

Founded in 2017, WeRide has been at the forefront of autonomous driving technology in China, conducting tests and commercial pilots in 30 cities across seven countries. Despite the company’s ambitious plans, the U.S. regulatory environment presents challenges. The Biden administration is expected to propose restrictions on Chinese software in autonomous vehicles, which could impact WeRide’s operations in the U.S.

WeRide’s financials reflect the challenges faced by companies in the nascent autonomous driving sector. For the first half of 2024, the company reported a net loss of 881.7 million Chinese yuan ($123.04 million), an increase from the 723.1 million yuan loss recorded during the same period last year. Revenue also dipped to 150.3 million yuan, down from 182.9 million yuan a year earlier.

This move makes WeRide the second major Chinese company to seek a U.S. listing in 2024, following electric vehicle maker Zeekr’s debut on the New York Stock Exchange in May. Zeekr’s shares, however, have since dropped 35.6% below their offer price, highlighting the volatile environment for Chinese IPOs in the U.S.

WeRide’s IPO comes amid a broader backdrop of caution regarding Chinese firms listing in the U.S., following the delisting of ride-hailing giant Didi Global in 2022 due to regulatory pressures from Chinese authorities. As WeRide steps onto the global stage, the company’s future will depend on navigating both technological challenges and a complex geopolitical landscape.

Read more on Waymo expands self-driving taxis to more neighbourhoods in California

Related Posts

Chevrolet EV Truck Breaks World Record With 1,059-Mile Drive
Electric Vehicles

Chevrolet EV truck breaks world record with 1,059-Mile drive on single charge

August 24, 2025
Honda patents Two-Wheeled Electric Vehicle
Electric Vehicles

Honda patents low-cost electric motorcycle set to be a game-changer for riders

August 24, 2025
BYD knocks Telsa off top spot in Australia’s EV sales
News

BYD knocks Telsa off top spot in Australia’s EV sales

August 24, 2025
Rolex Luxury wristwatch brand
Business

Timeless Wealth: Rolex, Patek ranked among the world’s top five luxury watch brands in 2025

August 22, 2025
Monterey Car Week 2025
Cars/SUVs

Ferrari steals spotlight as Monterey car week auctions hit $432.8m

August 22, 2025
The Orbit CF-1 Electric Automobile Limited
Electric Vehicles

Why Orbit’s CF-1 could be Nigeria’s first truly affordable electric vehicle

August 19, 2025
Next Post
"Emergency Meeting Held in South Korea After Massive EV Fire Destroys 140 Cars"

Emergency meeting held in South Korea after massive EV fire destroys 140 cars

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Carrera Chronosprint

TAG Heuer, Porsche unveils Carrera Chronosprint

September 18, 2023

Indonesian Coffees Recognized in French Gourmet Competition

April 19, 2023
Dipti Vachani

Auto boss: Meet Dipti Vachani, the genius driving AI innovation in the automotive industry

March 10, 2025
Lewis Hamilton’s Ferrari debut

Lewis Hamilton’s Ferrari debut ends in disappointment at Australian GP

March 17, 2025

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Chevrolet EV truck breaks world record with 1,059-Mile drive on single charge
  • Honda patents low-cost electric motorcycle set to be a game-changer for riders
  • BYD knocks Telsa off top spot in Australia’s EV sales
  • Timeless Wealth: Rolex, Patek ranked among the world’s top five luxury watch brands in 2025

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In