Automotive Author：Qasim Khan Apr 15, 2021 06:55 PM (GMT+8)

The Volkswagen-backed autonomous trucks manufacturer is now valued at nearly USD 8.5 billion.

High speed truck

The stock was priced at USD 40 higher than the price range of USD 35 to USD 39 set by the firm last week. 

So far, the company's revenue has been low and the losses have increased as it has been working on building and testing its technology and network. According to the data provided by the firm the revenue was USD 1.8 million last year, compared with a net loss of USD 178 million.

The IPO was led by Morgan Stanley, Citigroup and JPMorgan Chase. The company's shares are expected to begin trading on April 15 at Nasdaq under the symbol TSP.