Windrose Electric, a China-based maker of electric heavy trucks, said it plans to enter the U.S. stock market this year through a merger with a special purpose acquisition company. The transaction would value the company at at least $2 billion and is intended to raise more than $200 million by year-end.
Chief Executive Wen Han disclosed the plan in an interview reported by the Financial Times and cited by Reuters. The company said it made its first delivery of a long-distance electric heavy truck in the United States in April and has presented itself as a competitor in the heavy electric truck market that includes Tesla’s Semi.
Windrose has also said it has certification or approval for its trucks in Asia, Europe, North America and South America, and expects approvals in Oceania in the second half of 2026. In 2024, Reuters reported that Windrose was seeking $200 million in late-stage fundraising through a mix of equity and debt ahead of a planned U.S. listing.
According to Reuters, the proceeds were intended for overseas assembly plants serving Europe and the United States. Reuters also reported that Windrose is building an assembly plant in Belgium from 2025 and a final assembly plant in Georgia, and that U.S. buyers account for most of its reported order book of 6,400 trucks.