China self-driving startup WeRide files for $500 million U.S. IPO, sources say

Chinese driverless technology startup Guangzhou WeRide Technology Co. has filed confidentially for an initial public offering in the U.S. and is looking to raise as much as $500 million, according to people familiar with the situation. Chinese companies have only just resumed pursuing U.S. IPOs in recent months, after Didi Global Inc.'s 2021 listing prompted a crackdown by Beijing on companies with sensitive data selling shares abroad. To address the issue, WeRide will outsource data collection to an entity that won't be part of the planned U.S. listing, the people said. Deliberations are ongoing and details of the IPO including size and timing could change, the people said. A representative for WeRide didn't respond to a request for comment.