page contents Autonomous vehicle startup WeRide raises $320 million – The News Headline

Autonomous vehicle startup WeRide raises $320 million

WeRide, a Guangzhou, China-based startup growing self sustaining automobile techniques, this night time introduced that it raised a complete of $310 million in sequence B investment after finishing sequence B2 and B3 rounds. The fundraising follows the closure of a $200 million strategic spherical by means of Chinese language bus maker Yutong in December.

Some mavens are expecting the pandemic will hasten the adoption of self sustaining cars for supply. Self-driving automobiles, vehicles, and vans promise to reduce the danger of spreading illness by means of restricting motive force touch, which is in all probability why folks around the globe accept as true with the protection of self sustaining cars greater than they did 3 years in the past, in step with a number of surveys by means of Deloitte.

WeRide, which was once based in 2017 and has R&D and operations facilities in Beijing, Shanghai, and Silicon Valley, goals to expand “stage four” driverless automobiles that may care for nearly all of riding eventualities independently with out human intervention. WeRide labored with Yutong, a 57-year-old corporate, to make autonomous-driving minibuses and town buses with out guidance wheels, accelerators, or brakes supposed for city open roads.

WeRide introduced a publicly out there robo-taxi provider in Guangzhou in November 2019, overlaying a space more or less 89 sq. miles within the Huangpu and Guangzhou Construction districts. In June, WeRide’s robo-taxi provider changed into to be had to the general public thru Amap, a well-liked ride-hailing cell app in China.

WeRide claims its robo-taxis finished a complete of 147,128 journeys for greater than 60,000 passengers right through the primary 12 months of its provider’s operation. Beginning January 15, the corporate plans to release a pilot with shuttles and automobiles depending on its self sustaining navigation techniques round Guangzhou World Bio Island, overlaying the entire area’s trade and business districts.

WeRide

WeRide additionally says it plans to deploy its self-driving fleet within the Guangzhou downtown space
later this 12 months, in addition to enlarge to different towns.

“Within the 12 months 2021, extra main traders and companions are becoming a member of us, bringing of their strategic assets to meet the objective of commercializing self-driving generation. WeRide is taking pictures the upward development within the construction of AI- empowered mobility business, and extra hurries up R&D and the  commercialization of our applied sciences,” CEO and founder Tony Han mentioned in a remark. “We can improve the steadiness and protection of self-driving techniques, function our services and products whilst adhering to laws, and attempt to carry extra self-driving merchandise to the marketplace. We firmly imagine that this generation will make the sector higher for everybody.”

Yutong remained the strategic lead investor of WeRide’s newest tranche. Different backers incorporated CMC Capital Companions, CDB Apparatus Production Fund, Hengjian Rising Industries Fund, Zhuhai Huajin Capital, and Tryin Capital. Qiming Challenge Companions, Sinovation Ventures, and Kinzon Capital, who had been concerned within the earlier rounds, additionally participated within the investment.

Different primary automakers together with Nissan, Renault, and Mitsubishi prior to now invested in WeRide.

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