Self-Driving Tech Firm WeRide Surges in U.S. IPO

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WeRide debuted on the NASDAQ on Oct. 25. Photo: WeRide

WeRide Inc. made a strong debut on the Nasdaq, reflecting investors’ bullishness about the Chinese self-driving firm’s prospects as it expands its robotaxi fleet globally despite years of eye-watering losses.

The Guangzhou-based company’s American depository shares (ADSs) surged as much as 27% in their first trading day on Friday from their listing price, before paring some of the gains to close at $16.55.

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WeRide Inc.'s IPO on Nasdaq raised $120 million, with its shares closing at $16.55, setting a market cap of approximately $4.5 billion. Bosch subscribed to 83.3% of the ADSs.
WeRide secured $320.5 million through private placements, and has not yet turned a profit, with losses of $69 million in 2023.
The company is expanding globally with partnerships like the one with Uber, despite potential U.S. regulatory restrictions on Chinese autonomous tech.

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