Autonomous Trucks
Chinese Trucking Startup ForU Applies for Nasdaq ListingDing Yi / May 17, 2021 05:41 PM / Business & TechForU Worldwide, a Chinese truck-based logistics company that uses big data and artificial intelligence (AI) to improve operations, has filed for an IPO in the U.S., even as the American securities regulator tightens auditing standards for foreign firms. ForU did not disclose how many shares it will offer, but set a placeholder sum of $100 million. In the first quarter of 2021, ForU suffered a net loss of 54.5 million yuan ($8.3 million), greater than its 50.2 million yuan loss that it reported a year earlier. Its quarterly revenue grew 76.1% year-on-year to 1.2 billion yuan, according to its prospectus. Contact reporter Ding Yi (yiding@caixin.com)Related: Pony.ai Receives Green Light to Run Autonomous Freight Business in Guangzhou