Asian Tech Press (Nov 3) -- Chinese electric truck maker Windrose Technology plans to go public in the U.S. next year, raising at least $200 million.

Windrose Chairman and Chief Executive Wen Han said the company has begun preparations for a U.S. IPO next year and plans to commercially market the company's first truck, Bloomberg reported Friday.

He said the company is selecting investment banks for the IPO and aims to raise at least $200 million, which it will use to develop and produce zero-emission trucks featuring self-driving technology.

The company plans to start delivering the trucks to customers next year and sees Tesla Inc.'s Semi as an eventual competitor.

Han disclosed that the company has already secured orders for 1,000 and 500 units in the US and China respectively.

Founded in September 2021, Windrose is a technology company focusing on the research and development, sales and operation of new energy self-driving heavy trucks, as well as the construction and integration of application ecology.