Asia Tech Wire (July 29) -- Chinese self-driving technology startup WeRide has filed for an IPO with the U.S. Securities and Exchange Commission (SEC) to raise up to $100 million.

WeRide plans to list on the Nasdaq under the ticker symbol WRD, with Morgan Stanley, JPMorgan Chase and CICC as joint bookrunners on the U.S. IPO.

Once successful, WeRide's offering will be the largest IPO by a Chinese company in the U.S. since ride-hailing company Didi went public in 2021.

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

Founded in 2017, the company posted revenue of $55 million and a loss of $268 million last year.

WeRide is developing self-driving products and services, including Level 4 autonomous driving.

The company currently operates and tests its products in 30 cities across seven countries and offers paid robotaxi services to the public.