Chinese Companies Are Still Driving Into U.S. Markets
Innovative Chinese companies still want to list in the U.S., even those with little chance of ever operating there.
WeRide's self-driving robotaxi. Provided by WeRide
One of the largest fundraisings by a Chinese company on U.S. markets so far this year took place last month, bringing in over $400 million. Yet the firm in question might never sell any of its products in America.
Guangzhou-based firm WeRide, which specializes in robotaxis and other self-driving vehicles, raised $120 million in its IPO on the Nasdaq exchange, and an additional $320 million in a concurrent private placement.
Sources: Company statements, Pitchbook
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