Guangzhou-based self-driving startup WeRide is taking a major step towards its autonomous driving ambitions, filing for a Nasdaq IPO with plans to raise up to $119.4 million. The move marks a significant milestone for the Chinese company, which has been steadily developing its technology and building a presence in both China and the US.

WeRide’s filing comes at a time when the global autonomous vehicle market is experiencing a surge of interest, with major players like Waymo and Cruise making significant strides. The company’s focus on both robotaxis and autonomous delivery services positions it to tap into a diverse range of applications for its technology.

The company currently operates robotaxi services in Guangzhou and plans to expand its services to other Chinese cities. In the United States, WeRide has been conducting testing in California and has partnerships with several major companies.

WeRide’s IPO filing highlights the growing confidence in the future of self-driving technology. While the technology is still in its early stages of development, the potential for autonomous vehicles to revolutionize transportation is undeniable. The funds raised through the IPO are expected to accelerate WeRide’s research and development efforts, enabling the company to further refine its technology and expand its operations.

With its strong commitment to innovation and its ambitious plans for the future, WeRide’s Nasdaq listing could be a major catalyst for the development and adoption of autonomous vehicles worldwide.