Applied EV eyes ASX listing as it launches new driverless car with Suzuki
The Australian autonomous vehicle maker has generated enough revenue over the past two years to sustain its operations, according to founder Julian Broadbent.
Three years ago, autonomous vehicle maker Applied EV had plans to go public. However, the tech wreck of 2022 saw those plans shelved, with the company instead selling a significant stake to Suzuki.
Now, founder and CEO Julian Broadbent is once again eyeing a float. Speaking to Capital Brief, he explained that the new generation of the company’s Blanc Robot vehicle can be mass produced, creating a revenue opportunity that better aligns with being a public company.
“We’re definitely interested in an IPO. We’re already a limited company and run our business like a listed company — we already meet all the ASIC requirements today,” Broadbent said. “An IPO for a company like Applied EV would make a lot of sense, particularly when we [start to make] revenue with a product that we can scale almost infinitely.”
Broadbent said last year that the company, founded in 2015, has been generating revenue since its inception, now totalling around $10 million. On Monday, he told Capital Brief that Applied EV does not require additional funding, as it has been self-sustaining for the past two years.
