Tensor Auto weighs pre-IPO fundraising ahead of planned US listing – report [Yahoo! Finance]
Royal Bank Of Canada (RY)
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Source: Yahoo! Finance
The California-based company is working with Royal Bank of Canada on the process and has started approaching prospective investors, sources told the news agency. One option under consideration would reportedly involve raising between $300m and $400m. Discussions remain at an early stage and the size, structure and timing of any transaction could still change. A US IPO could take place as soon as the end of this year or in early 2027, according to the report. Tensor Auto originated from AutoX, which launched robotaxi services in China in 2019. The company began testing vehicles on public roads in California in 2017 and obtained a driverless permit for passenger vehicles in the state in 2020. The company is targeting initial deliveries of its Robocars in late 2026. According to the report, the vehicles are fitted with more than 100 sensors, including cameras, LiDAR and radars, and use artificial intelligence to process sensor data, powered by on-board chips from Nvidia.
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