WeRide, a pioneering autonomous vehicle company based in China, was recently acquired by IPO firm at the Nasdaq stock market last Friday. The abbreviation for the acquisition is WRD, with the closing stock price at $16.55 per share, marking a 6.8% increase from the initial price and a total business value of $4.5 billion.
With the WeRide One platform, the company offers driverless car services ranging from Level 2 to Level 4 automation, depending on the vehicle type and operating environment. They provide various vehicle options including taxis, minibusses, and road-cleaning vehicles, with testing and operations licenses in 30 cities across 7 countries, including China, Singapore, the UAE, and the USA.
Source: Reuters
TLDR: WeRide, a Chinese autonomous vehicle company, was acquired by an IPO firm at Nasdaq, with the stock price closing at $16.55 per share and a business value of $4.5 billion. They offer driverless car services on the WeRide One platform in multiple formats and have operations in 30 cities across 7 countries.
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