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WeRide

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WeRide Inc.
Company typePublic
Nasdaq: WRD
IndustryAutonomous vehicles
Founded2017; 8 years ago (2017)
FounderTony Han
Headquarters
Guangzhou
,
China
Key people
Tony Han (CEO), Yan Li (CTO)
Websitewww.weride.ai

WeRide Inc. (Chinese: 文远知行) is an autonomous driving technology company. It holds driverless permits in China, the US, the UAE, Singapore and France.[1][2][3][4][5]

History

WeRide was established in Silicon Valley in 2017, by Tony Han who was the former Chief Scientist of Baidu's Autonomous Driving Unit.[3] It currently has offices in San Jose, Abu Dhabi, Singapore, Guangzhou, Beijing, Shanghai and Shenzhen.[1] As of 2025, it has over 2000 employees.[3]

In November 2020, WeRide announced that a total of 147,128 trips were completed for more than 60,000 passengers during its first year of Robotaxi service.[4] In January 2021, WeRide unveiled the Mini Robobus.[6]

In April 2021, WeRide obtained a driverless test permit in California.[1][7] In September 2021, WeRide created a self driving cargo van, entitled the WeRide Robovan.[8][9] In December 2021, WeRide completed an autonomous taxi trial on Yas Island in the UAE, by partnering with Bayanat.[10]

In May 2022, WeRide partnered with Bosch to jointly develop Advanced driver-assistance systems (ADAS) software solution.[11] In September, WeRide began its operations in Singapore and later entered into an agreement with Strides, a subsidiary of Singapore's public transport operator SMRT Corporation.[12][13]

In January 2023, WeRide launched a new generation of autonomous driving sensor suite, WeRide Sensor Suite 5.1, at the 2023 International Consumer Electronics Show (CES).[14] In 2023, WeRide was granted the UAE's first approved national license for self-driving vehicles on the country's roads.[15][16] In December, WeRide obtained the Milestone Testing Regime Level 1 License (M1 License) for Autonomous Vehicles (AV) on Public Roads and the T1 Assessment License (T1 License) for AVs on Public Paths (T1 License) from the Land Transport Authority (LTA) of Singapore.[17][18] In April 2024, WeRide launched its autonomous driving sanitation, the Robosweeper S1.[19] In May, the company announced its partnership with Renault Group.[20] In June, WeRide partnered with Chye Thiam Maintenance (CTM), a sanitation company in Singapore, to jointly advance WeRide Robosweeper in Singapore.[21]

In the same month, WeRide and Uber announced a strategic partnership to bring WeRide’s autonomous vehicles to the Uber platform, starting in the UAE. The service first launched in Abu Dhabi, with select WeRide vehicles available via the Uber app. WeRide already operates a robotaxi fleet in the UAE.[22][23][24]

Also in October 2024, WeRide filed for an initial public offering on Nasdaq, raising $439.9 million, and was subsequently listed under the ticker symbol WRD.[25] Making it the first publicly listed universal autonomous driving company and the first publicly listed Robotaxi company.[26][27]

In January 2025, the company became part of a project funded by the Canton of Zurich and the Swiss national railway Schweizerische Bundesbahnen (SBB).[28] In February, WeRide launched its Robovan W5.[29]

In February 2025, WeRide announced its first European fully driverless Robobus as part of a shuttle service partnership with beti, Renault Group, and Macif that featured an L4-level automated mobility service in Drôme, France. The company also launched the Robotaxi model GXR in Beijing.[30]

In March 2025, it was reported that WeRide earlier on during the year had submitted a formal application to the Hong Kong Stock Exchange for a secondary listing.[31]

In May 2025, WeRide and Uber Technologies announced a significant expansion of their previously announced strategic partnership, adding 15 additional cities globally over the next five years, including in Europe.[32]

Financing

In September 2017, WeRide completed a $52 million pre-A round led by Qiming Venture Partners, Sinovation Ventures, NVIDIA and others.[3]

In October 2018, WeRide closed its Series A funding round, with Renault-Nissan-Mitsubishi Alliance as the lead investor.

In January 2021, the company raised $310 million in Series a B round after completing Series B2 and B3. It raised $200 million from Yutong Group, the lead investor on the deal.[33] Qiming Venture Partners, Sinovation Ventures and Kinzon Capital, who were involved in the previous rounds, also participated in the funding.[34]

In May 2021, WeRide closed a $310 million Series C round at a $3.3 billion valuation, invested by IDG Capital, Hechuang Investment, CoStone Capital, Cypress Star, Sky9 Capital, and K3 Ventures.[35][36] Some institutes involved in WeRide's previous funding rounds, such as CMC Capital, Qiming Venture Partners, and AlpView Capital are also among the investor list.[37] In December 2021, WeRide received strategic investment from GAC Group.[38][39]

In January 2022, WeRide completed series D funding round, jointly invested led by a China-UAE joint sovereign fund, Asia Investment Capital, Bosch, GAC Group, and Carlyle Investment Group, raising the company’s valuation to $4.4 billion. In November 2022, WeRide completed a series D+ financing round, with China Development Bank Capital leading the investment. The post-investment valuation was $5.1 billion.[40][41][42]

In October 2023, WeRide filed for a $119.4 million IPO on Nasdaq and a $320.5 million private placement. The company planned to offer 6.5 million shares as part of the listing.[43]

References

  1. ^ a b c "China's robotaxis charged ahead in 2021". TechCrunch. Retrieved 1 April 2022.
  2. ^ "WeRide Gets China's First Permit to Test Fully Autonomous Vehicles". Yicai Global. Retrieved 2023-02-02.
  3. ^ a b c d "WeRide and its "triangle": striving in the autonomous driving battlefield". Gasgoo. Retrieved 1 April 2022.
  4. ^ a b "China Publishes First Robotaxi Passenger Survey Report". That's Online. Retrieved 2023-02-02.
  5. ^ "WeRide obtains driverless permit in France". www.msn.com. Retrieved 2025-05-18.
  6. ^ "WeRide Aims to Provide Paid Driverless Minibus Service in 2021 - Caixin Global". Caixin Global. Retrieved 2023-02-02.
  7. ^ "DMV Authorizes WeRide to Test Driverless Vehicles in San Jose". California DMV. Retrieved 2023-02-02.
  8. ^ Bellan, Rebecca (2021-09-09). "China's WeRide unveils Robovan, its first electric, autonomous cargo van". TechCrunch. Retrieved 2025-05-18.
  9. ^ Kharpal, Arjun (2021-09-09). "Chinese driverless car firm WeRide launches 'Robovan' for autonomous deliveries". CNBC. Retrieved 2025-05-18.
  10. ^ "DUAE completes groundbreaking autonomous taxi trial". Critical Communications Today. Retrieved 1 April 2022.
  11. ^ Cheng, Evelyn (2022-06-02). "Self-driving car companies' first step to making money isn't robotaxis". CNBC. Retrieved 2025-05-18.
  12. ^ Kang, Lei (2023-03-29). "Chinese self-driving startup WeRide plans to start autonomous vehicle testing in Singapore this year". CnEVPost. Retrieved 2025-05-18.
  13. ^ "PM Lee starts week-long China visit". The Straits Times. 2023-03-27. ISSN 0585-3923. Retrieved 2025-05-18.
  14. ^ "CES 2023: WeRide launches 'WeRide SS 5.1' new autonomous driving sensor suite - Automotive Technology Insight | Forecasts | Industry News | Supply Chain". autotechinsight.ihsmarkit.com. Retrieved 2024-02-23.
  15. ^ "Driverless cars given green light by the UAE". Arab News. Retrieved 2025-05-18.
  16. ^ Singh, Marisha (2023-07-05). "WeRide receives UAE's first self-driving licence". Retrieved 2025-05-18.
  17. ^ "Chinese self-driving start-up WeRide obtains two Singapore permits". South China Morning Post. 2023-12-12. Retrieved 2025-05-20.
  18. ^ "Ready for Robobus? — Singapore to experience China's WeRide autonomous buses - Singapore News". 2023-12-14. Retrieved 2025-05-20.
  19. ^ "Tiny electric robovan cleans 1 million square feet of road per charge". New Atlas. 2024-04-05. Retrieved 2025-05-20.
  20. ^ 杨洋. "China's WeRide offers driverless rides at French open". www.chinadaily.com.cn. Retrieved 2025-05-20.
  21. ^ "Driverless road sweepers put to test again, targeted for Marina coastal area by end-2024". The Straits Times. 2024-06-16. ISSN 0585-3923. Retrieved 2025-05-20.
  22. ^ https://www.prnewswire.com/ae/news-releases/weride-and-uber-partner-to-bring-autonomous-vehicles-to-the-uber-platform-beginning-in-the-united-arab-emirates-302258701.html
  23. ^ Report, Gulf News (2024-12-06). "UAE: Uber launches first robotaxi service outside of US in Abu Dhabi". Gulf News: Latest UAE news, Dubai news, Business, travel news, Dubai Gold rate, prayer time, cinema. Retrieved 2025-05-20.
  24. ^ Kolodny, Lora (2024-12-06). "Uber will offer robotaxi rides in Abu Dhabi through partnership with WeRide". CNBC. Retrieved 2025-05-20.
  25. ^ "Chinese self-driving startup WeRide files for $440 mln U.S. IPO". Reuters. 24 October 2024. Retrieved 24 October 2024.
  26. ^ "China's WeRide (WRD) Said to Raise $440.5 Million in US IPO, Placement". Bloomberg.
  27. ^ "China's self-driving startup WeRide's shares surge in Nasdaq debut". Reuters. 2024-10-25. Retrieved 2025-05-20.
  28. ^ "China's WeRide supports Swiss autonomous driving pilot project". www.ecns.cn. Retrieved 2025-05-20.
  29. ^ "WeRide releases the new generation unmanned logistics vehicle". China Daily.
  30. ^ World, Automotive (2025-03-14). "WeRide: Pioneering autonomous technology drives global expansion and commercial market growth". Automotive World. Retrieved 2025-05-20.
  31. ^ Zhou, Cizzy (March 14, 2025). "Pony.ai and WeRide eye secondary listings in Hong Kong". Nikkei Asia. Retrieved 2025-03-20.
  32. ^ Korosec, Kirsten (2025-05-07). "Uber invests $100M in WeRide to fuel robotaxi expansion across 15 more cities". TechCrunch. Retrieved 2025-05-23.
  33. ^ "Chinese autonomous driving startup WeRide bags $200M in funding". TechCrunch. 23 December 2020. Retrieved 1 April 2022.
  34. ^ "Chinese autonomous vehicle company WeRide raises $200 million from bus maker Yutong". Reuters. 23 December 2020. Retrieved 1 April 2022.
  35. ^ "China's WeRide secures more funding, pushing valuation to $3.3 billion". TechCrunch. 13 May 2021. Retrieved 1 April 2022.
  36. ^ "Autonomous driving startup WeRide closes Series C funding round, valued at $3.3 billion". Gasgoo. Retrieved 1 April 2022.
  37. ^ "Nissan-backed self-driving startup WeRide secures $3.3bn found". [GC Business News. 13 May 2021. Retrieved 1 April 2022.
  38. ^ "China's WeRide receives strategic investment from GAC Group for robotaxis". Reuters. 14 December 2021. Retrieved 1 April 2022.
  39. ^ "WeRide receives strategic investment from GAC Group to develop robotaxis for large scale operation". Pandaily. 14 December 2021. Retrieved 1 April 2022.
  40. ^ "Autonomous driving unicorn WeRide files for US IPO amid expansion plans". South China Morning Post. 2024-07-28. Retrieved 2025-05-20.
  41. ^ Bellan, Rebecca (2024-08-12). "China's autonomous vehicle startup WeRide seeks US IPO at $5B valuation". TechCrunch. Retrieved 2025-05-20.
  42. ^ "Autonomous driving unicorn WeRide files for US IPO amid expansion plans". South China Morning Post. 2024-07-28. Retrieved 2025-05-20.
  43. ^ "Chinese self-driving startup WeRide files for US$119 million US IPO". The Business Times. 2024-10-24. Retrieved 2025-05-20.
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