We hope you find the new site even more helpful in finding the perfect truck.
A handy location map has been added to each listing.Email contact form has been added to each listing page, so now it’s even easier to contact a truck’s seller.We’ve improved the site with new features: The two companies have recently announced the launch of a joint commercial autonomous freight pilot program, under which ForU will deploy a fleet of trucks powered by Trunk’s technology on a route between Beijing and Shanghai later this month.Ĭontact reporter Ding Yi Pony.Welcome to the All-New ! In August 2020, ForU partnered with Trunk, a 4-year old Beijing-based startup that develops autonomous driving technology for trucks, to set up a joint venture to explore the commercial use of the technology in cargo transportation.
The company has also shifted more focus to autonomous technology in order to enhance efficiency as the technology is considered to be more easily applied to trucks than passenger vehicles because trucks tend to operate in less complex road conditions such as on highways. Since its founding in 2015, ForU has used the big data and AI technologies to develop three platforms responsible for pricing, order dispatching and dealing with problems like risk control and customer enquiries, according to its website. Its quarterly revenue grew 76.1% year-on-year to 1.2 billion yuan, according to its prospectus. In the first quarter of 2021, ForU suffered a net loss of 54.5 million yuan ($8.3 million), greater than its 50.2 million yuan loss that it reported a year earlier.
The company said that it intends to use net proceeds to expand its business and invest in research and development, as well as for general corporate purposes. Securities and Exchange Commission.įorU did not disclose how many shares it will offer, but set a placeholder sum of $100 million. LATEST Auto Chip Developer SiEngine Unveils Its First Smart Cockpit Chip State-Backed Investors Beat Out Alibaba for Unigroup Alibaba Literally Doubles Down on Money-Losing UTour Foxconn Drives Further Into Chipmaking With Stellantis Tie-Up Flexible-Screen Maker Royole Delays Employee Salaries IQiyi Fires Hundreds of Workers as Losses Balloon Amid Platform Crackdown, TikTok-Owner ByteDance Looks to the Cloud Audi’s China Electric Car Plant Reportedly Delayed Over Lack of Official Go-Ahead Guangzhou Auto to Spend Extra $1.7 Billion on Battle With Tesla for EV Distance Record Alibaba's Youku Wins Copyright Case Against Short-Video App Over Clip Sharing Tesla to Expand Production at Shanghai Plant China Smartphone Giant Xiaomi Shifts Gears With Plan to Build Electric Car Factory Cover Story: How Will New Data Security Rules Reshape China’s Internet Industry? Chinese Streaming Giants’ Losses Grow Along With Their Revenues Chongqing Changan Teams Up With Huawei to Roll Out Smart Electric Vehicle Temasek’s Appetite Grows for Investing in Food Startups Caixin Summit: Executive at Baidu’s Self-Driving Car Unit Trumpets Safety Benefits of Self-Driving Cars Huawei Donates Operating System to Chinese Tech Nonprofit Chipmaker TSMC Assures Customer Confidentiality in Data Submission to Washington Shanghai Esports Team Wins League of Legends World ChampionshipįorU Worldwide, a Chinese truck-based logistics company that uses big data and artificial intelligence (AI) to improve operations, has filed for an IPO in the U.S., even as the American securities regulator tightens auditing standards for foreign firms.īeijing-based ForU, which is backed by investors including Plum Ventures, Legend Capital, Matrix Partners China and JD Logistics, plans to list American depositary shares (ADSs) under the symbol “FOYO,” according to its prospectus filed last week with the U.S.
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