WeRide is another autonomous vehicle start-up, which styles itself as a rival of Pony.ai. Like other companies focusing on self-driving technology, it is developing robotaxis and claims to have tested its systems through trial programmes of more than 10 million kilometres. WeRide was founded in Guangzhou, the provincial capital of Guangdong, which was also the location for the launch of China’s first robotaxi service for the public in 2019.
Early backing came from investors including a strategic venture capital fund operated by Renault-Nissan-Mitsubishi. WeRide closed another $400 million round of funding earlier this year from a group of investors including state-owned automaker GAC and German car parts supplier Bosch. The round was reported to have valued the five-year-old firm at $4.4 billion.
© ChinTell Ltd. All rights reserved.
Sponsored by HSBC.
The Week in China website and the weekly magazine publications are owned and maintained by ChinTell Limited, Hong Kong. Neither HSBC nor any member of the HSBC group of companies ("HSBC") endorses the contents and/or is involved in selecting, creating or editing the contents of the Week in China website or the Week in China magazine. The views expressed in these publications are solely the views of ChinTell Limited and do not necessarily reflect the views or investment ideas of HSBC. No responsibility will therefore be assumed by HSBC for the contents of these publications or for the errors or omissions therein.