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AI & Enterprise

Wrtn steps up IPO plans for next year, appoints lead managers

Wrtn Technologies, an AI service platform company, said on Tuesday it appointed Mirae Asset Securities as lead underwriter and NH Investment & Securities as joint underwriter for its initial public offering. Wrtn plans to coordinate a detailed listing timetable and procedures with the firms, aiming to file for a preliminary listing review next year. In August, it raised 100 billion won in a Series C round, bringing total funding to about 230 billion won and valuing it at more than 1 trillion won.

Mobility

Tesla total-loss history share 19 percent, widening gap with other EVs

Tesla vehicles are more likely than similarly aged vehicles to have a total-loss history, based on an analysis by vehicle-history data firm EpicVIN. It found Tesla models had a total-loss history share of about 18 to 19 percent, versus an average of 13.7 percent for all vehicles studied. Tesla vehicles averaged 5.2 years old. EpicVIN put the average share for vehicles aged 5 to 8 years at 7.5 percent.

Industry

Xpeng surpasses 80 percent automation in robot production, says Iron walks off line after assembly

China EV maker Xpeng has started a new production line for its humanoid robot Iron and released footage showing the robot walking off the line after assembly. The company said more than 80 percent of key processes are automated and that it will apply its car quality-control system to keep output consistent as volumes rise. Xpeng aims to begin mass production by the end of this year and plans initial deployments at its stores and campus.