Chinese self-driving truck startup Inceptio eyeing US IPO: report

Inceptio was present at CES Asia 2019, where it showcased its newest model, the Inceptio No. 1, in Shanghai, China on June 11, 2019. (Image credit: TechNode/Eugene Tang)

Chinese self-driving truck developer Inceptio is exploring the possibility of a US intial public offering to raise between $100 million and $200 million this year, people familiar with the matter told Bloomberg. The news comes as investor sentiment have begun improving towards listings such as Pony.ai and WeRide, two robotaxi companies with a China background. The robotruck startup said commercial rigs powered by its technology have traveled more than 200 million kilometers (124 million miles) on Chinese roads as of last year in trials with local couriers such as SF and ZTO. Founded in 2018 in Shanghai, Inceptio has been backed by investors including Chinese battery giant CATL, food delivery behemoth Meituan, and venture capital firm HongShan, formerly known as Sequoia China. [Bloomberg]