The first ever publicly listed company focused exclusively on autonomous vehicle technology has debuted on the Nasdaq. And they’re aiming to be a dominant force in the future of transportation.
What’s happening:
- WeRide (NASDAQ: WRD) has successfully raised approximately $440M USD through their IPO and has begun trading on the Nasdaq
Why it matters:
- WeRide is the first ever IPO for an autonomous driving technology company onto a major stock exchange in the United States
- Autonomous driving technology has become a much larger focus for large companies such as Tesla (NASDAQ: TSLA) and Uber (NASDAQ: UBER) recently, sparking a surge in excitement in the public markets over the future opportunity in fully self driving vehicles
By the numbers:
- WeRide’s autonomous vehicles are currently operating in 30 cities across 7 different countries
Going deeper:
- WeRide has developed multiple different types of vehicles, from small autonomous buses to delivery vans to taxis
- WeRide holds driverless permits in the United Arab Emirates, China, Singapore and the United States of America
The intrigue:
- Nvidia (NASDAQ: NVDA) has also been placing strategic bets on the future of self driving technology, previously investing in the Series B financing round of Canadian commercial vehicle startup Waabi
