Wenyuanzhixing (WRD.US) applied for a US listing, which could become the largest Chinese company to go public since Didi.

China's autonomous driving startup WeRide (WRD.US) filed for an IPO with the US Securities and Exchange Commission (SEC), hoping to be the largest IPO by a Chinese company in the US since Didi (DIDIY.US) went public in 2021.

WeRide did not disclose the number of ADSs to be issued or the proposed price range in a filing on Friday. The company reportedly filed for an IPO in secret last year, planning to raise up to $500 million.

The filing showed WeRide had $55 million in revenue last year and a loss of $268 million.

WeRide was founded in 2017 and develops autonomous driving technology, and is currently conducting commercial testing or deployment in 30 cities in seven countries. The company has entered the commercial operation stage of autonomous driving, and formed the product matrix of Robotaxi, Mini Robobus, Robovan, Robo Street Sweeper, Advanced Driving Solution, etc., providing multiple services such as ride-hailing, on-demand bus, same-city freight, intelligent sanitation, and advanced driving solution.

According to the filing, Renault-Nissan-Mitsubishi Alliance, WeRide's current investor, has agreed to buy shares in the company's IPO in a private placement.

The IPO is led by Morgan Stanley, Morgan Stanley and CICC. The company applied to list on the Nasdaq in the form of ADSs, with the stock code “WRD”.