Driverless Firm Plus Said to Mull U.S. IPO of Non-China Business

Plus is considering listing its non-China businesses in a U.S. initial public offering, according to people familiar with the matter, after the self-driving-truck startup scrapped a merger with a blank-check company.

The Cupertino, California-based firm is working with advisers to privately raise fresh funds in a round valuing the entire business at about $3 billion, the people said, ahead of a potential traditional IPO for the U.S. and Europe businesses.

Deliberations over an IPO for Plus are at an early stage and no final decision has been made, the people said. A representative for Plus didn’t immediately respond to requests ...