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China autonomous driving agency WeRide valued at $3.3 billion after funding – Information by Automobilnews.eu

China autonomous driving agency WeRide valued at $3.3 billion after funding


A fleet of WeRide robotaxis are pictured. The corporate has been testing its robotaxis within the southern Chinese language metropolis of Guangzhou since 2019.

WeRide

GUANGZHOU, China — Autonomous driving firm WeRide has raised new funds valuing the corporate at $3.3 billion {dollars}.

The Nissan-backed start-up didn’t disclose the sum raised however stated it totaled “a whole lot of hundreds of thousands” of {dollars} from enterprise capital traders together with IDG Capital and Sky9 Capital. A lot of different backers and current traders participated within the spherical.

Tony Han, CEO of WeRide stated in an announcement that the brand new funding could be used for analysis and improvement, and commercialization “with the goal of delivering large-scale autonomous mobility within the coming future.”

WeRide is among the many corporations primarily based in China pushing aggressively to take a lead within the autonomous driving area globally.

In 2019, it opened a robotaxi mission within the southern Chinese language metropolis of Guangzhou, the place it’s headquartered. Members of the general public have been ready to make use of the service since final yr in a sure space of the town.

In April, WeRide obtained a allow from the California Division of Motor Autos (DMV) to conduct driverless testing on public roads in San Jose.

The corporate is competing with different start-ups comparable to Pony.ai, which raised $267 million in November, and AutoX. Bigger know-how companies together with web big Baidu and ride-hailing firm Didi, are additionally exploring the area.

WeRide’s newest funding spherical comes off the again of a $310 million money injection in January.

WeRide’s CEO beforehand informed CNBC that he predicts the large-scale software of robotaxis will happen between 2023 and 2025. He stated that WeRide will start to earn a living from the enterprise in 2025. 

The corporate doesn’t truly manufacture vehicles. As an alternative, it sells the autonomous driving techniques to different automakers.

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China autonomous driving agency WeRide valued at $3.3 billion after funding – Information by Automobilnews.eu
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