Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Webinar Library
Log In
No Result
View All Result
  • Dealers
  • Lenders
  • Transportation
  • Agriculture
  • Construction
  • Materials Handling
  • Rentals
  • Compliance
  • Data Analysis
Equipment Finance News
  • News
  • Event
  • Data
  • Features
  • Lender Directory
  • PodcastNew
  • WebinarsNew
    • Webinar Library
No Result
View All Result
Equipment Finance News
No Result
View All Result

Chinese electric truck maker Windrose is seeking US IPO in 2024

The company is selecting investment banks and aims to raise at least $200 million

Bloomberg NewsbyBloomberg News
November 3, 2023
in Transportation
Reading Time: 2 mins read
0
Share on FacebookShare on LinkedIn

Chinese electric truck maker Windrose Technology Inc. has started preparatory work for an initial public offering in the US next year as it plans the commercial roll out of its first vehicle.

The company is selecting investment banks and aims to raise at least $200 million, founder and Chief Executive Officer Wen Han told Bloomberg News. Proceeds will go toward research, development and production of Windrose’s zero-emission trucks, which are equipped with autonomous driving technology.

Windrose is raising $100 million in a pre-IPO round, Han said, and already has backing from FountainVest Partners Co., Yunqi Partners and GSR Ventures Management Co., among others.

The company plans to start delivering its trucks, which it sees as an eventual rival to Tesla Inc.’s Semi, to customers in 2024. It already has 1,000 orders in the US and 500 in China, according to Han.

Windrose is also developing a hydrogen fuel cell truck based on a shared platform with its EV.

Its ambitions contrast with European startup Volta Trucks AB, which is filing for bankruptcy after a breakdown in its supply chain derailed production.

Han, previously chief strategy and financial officer at US autonomous trucking company Plus, founded Windrose in 2022. The company says its trucks can drive 600 kilometers (370 miles) carrying a full payload, with batteries that can charge to 65% in 35 minutes.

Windrose is testing its vehicles in China and Hong Kong with companies including sports product retailer Decathlon SA, property firm Goodman Group and Kerry Logistics Network Ltd.

–By Danny Lee (Bloomberg)

Tags: capital marketselectric vehiclesequipment finance
Previous Post

Cat Financial originations rise 6% YoY amid high rates

Next Post

Hyster-Yale Americas dealer sales up 43% YoY

Related Posts

A display of haulage trucks from DAF Trucks NV at the IAA Transportation show in Hanover, Germany, on Monday, Sept. 19, 2022. Global leaders Daimler Truck Holding AG and Volvo AB are joining dozens of commercial-vehicle makers in Germany this week to showcase their latest electric semis, with more zero-emissions vehicles debuting at the IAA Transportation show than ever before.
Transportation

Daimler financial services revenue jumps 14% in Q1

May 14, 2025
Softer-than-expected inflation points to muted tariff fallout
Transportation

Softer-than-expected inflation points to muted tariff fallout

May 13, 2025
A refrigerated railcar sits on the production line at the Greenbrier Cos.' Gunderson railcar plant in Portland, Oregon, U.S., on Tuesday, Jan. 15, 2013. The U.S. Federal Reserve is scheduled to release monthly industrial production figures on Jan. 16.
Transportation

Post Road closes $15M loan to transportation firm

May 12, 2025
Next Post
A worker uses a Hyster-Yale Materials Handling Inc. pallete truck to load bags of cement at the Hercules cement plant, operated by PPC Ltd., in Pretoria, South Africa, on Thursday, Sept. 3, 2015. PPC Ltd., South Africa's largest cement maker, has drawn up a plan to generate 400 million rand ($34 million) in extra profit each year as the company seeks to improve performance amid a flagging share price.

Hyster-Yale Americas dealer sales up 43% YoY

Proud Member Of

Check Out Our Industry Event

Stay Informed With Our 8 Newsletters

The Dig Podcast

Dealer Operations

Kubota tractors on display during the Expo Agro Sinaloa

Dealers, lenders emphasize flexibility amid economic hardship

May 16, 2025
The Marriner S. Eccles Federal Reserve building in Washington, DC, US, on Thursday, Dec. 28, 2023. The market's reaction to the Federal Reserve's pivot toward interest-rate cuts this month has boosted expectations that would-be public companies may accelerate their IPO timelines.

Tariff-driven pessimism drives ‘wait and see’ approach

May 15, 2025
A Caterpillar bulldozer at a construction site in Hudson, New York, US.

Finning new equipment sales rise 7% YoY

May 14, 2025
  • About Us
  • Advertise
  • Contact Us
  • Privacy Terms
  • ADA Compliance

 Manage Cookie Consent

Connect with us

© 2025 Royal MediaRoyal Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • All News
    • Dealers
    • Lenders
    • Transportation
    • Agriculture
    • Construction
    • Material Handling
    • Rentals
    • Compliance
    • Data Analysis
  • Event
  • Data
  • Features
  • Lender Directory
  • Podcast
  • Webinars
    • Webinar Library

© 2025 Royal MediaRoyal Media

THIS WEBSITE USES COOKIES

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I CONSENT”, you consent to the use of ALL the cookies.

Cookie settingsI CONSENT

Review our Cookie Policies
.
Manage Cookie Consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
Save & Accept