WeRide, a global leader in autonomous driving technology, made its debut on the Nasdaq Global Select Market today under the ticker symbol "WRD," marking a historic milestone as the world’s first universal autonomous driving company to go public. This listing also establishes WeRide as the first publicly traded Robotaxi company, showcasing its early leadership in autonomous mobility.
Priced at $15.5 per American depositary share (ADS), the IPO is expected to raise up to $458.5 million, including a concurrent $320 million private placement and assuming the full exercise of the underwriters' options. With this influx of capital, WeRide aims to accelerate its technology development and market expansion, reaching more cities and expanding applications of autonomous vehicles globally.
Reflecting on the company's journey, Tony Han, Founder and CEO of WeRide, said, “Seven years of perseverance have led to WeRide’s new journey today. We are deeply grateful to our investors, clients, employees, and all our partners for their trust and support. Going public is a new beginning, and WeRide will continue to drive technological innovation, delivering safe, comfortable, and convenient autonomous driving products and services to more countries and regions.”
A Vision for Autonomous Transformation
Founded in 2017, WeRide has consistently focused on pushing the boundaries of urban mobility. Its autonomous driving portfolio spans across Robotaxis, Robobuses, Robovans, Robosweepers, and advanced driver-assistance systems (ADAS), covering a range of solutions from Level 2 to Level 4 autonomy. These innovations are tailored for applications in smart mobility, logistics, and sanitation, bringing WeRide’s technology to the forefront of urban transformation.
WeRide’s international footprint is notable, as it holds autonomous driving licenses in China, the UAE, Singapore, and the United States. Operating across 30 cities in seven countries, WeRide has logged over 1,700 days of autonomous testing and operation, demonstrating the company’s commitment to broadening the reach and reliability of its technology. This year, WeRide was ranked eighth on Fortune’s 2023 Change the World list, solidifying its reputation as a changemaker in the autonomous space.
Expanding Autonomous Driving for Sustainable Cities
Looking forward, WeRide is setting its sights on global expansion and furthering autonomous driving innovation, with a focus on creating low-carbon, sustainable urban environments. The company’s mission aligns with growing global demands for greener, more efficient transportation solutions, as it continues to evolve its offerings for both public and private sector applications.
With its Nasdaq debut, WeRide enters a new phase of growth, poised to shape the future of autonomous transportation on a global scale.
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