Chinese autonomous-driving firm Inceptio is said to weigh US IPO

Inceptio Technology, a Chinese developer of self-driving technologies for heavy-duty trucks, is exploring an initial public offering in the US as soon as this year, people familiar with the matter said.

The company, which also operates under the name Yingche Technology Shanghai, is aiming to raise US$100 million (HK$780 million) to US$200 million in the IPO, the people said, asking not to be identified discussing a private matter. Deliberations are ongoing, and the size and timing of the deal may change, the people added.

A representative for Inceptio declined to comment.

Should the deal go through, the company would join WeRide and Pony AI among developers of self-driving technologies that trade in New York. WeRide’s American depositary receipts have fallen about 15 percent since their debut in October, and those of Pony AI are up about 5 percent since the company’s IPO in November.

Founded in 2018, Inceptio counts battery maker Contemporary Amperex Technology, food-delivery firm Meituan (3690) and investment firm HongShan Capital Group — formerly known as Sequoia China — among its shareholders.

Inceptio-powered commercial trucks have driven more than 200 million kilometers across China as of the end of last year. Its customers include logistics firms SF Holding (6936) and ZTO Express (2057), as well as Nestle, according to Inceptio’s website.

Investors will likely pay close attention to the level of scrutiny the listing may draw after the incoming Donald Trump administration settles in. WeRide and Pony AI both faced delays in their US floats due to the Securities and Exchange Commission’s requests for more documents, prompting the companies to later make additional disclosures in risk factors related to data and mapping activities.

(Bloomberg)