Home Artificial Intelligence China’s WeRide has secured US$ 200M in Series B1 funding

China’s WeRide has secured US$ 200M in Series B1 funding

China’s WeRide has secured US$ 200M in Series B1 funding
China’s WeRide has secured US$ 200M in Series B1 funding

WeRide, a China-based startup which develops autonomous driving capabilities, quoted on 23rd December 2020 that it has secured US$200 million strategic round from Chinese bus maker Yutong.

The funding will support WeRide to partner with a mature company Yutong to produce autonomous-driving minibuses as well as city buses and to work together on vehicle platforms, R&D and mobility services. The companies have mutually developed a front-loaded driverless minibus for bulk-production. The design, that comes without a steering wheel, accelerator or brakes, is intended for operating in urban open roads, the company said.

 In China, Autonomous driving startups are rushing to showcase their development, in order to draw funding for their cash consuming The company and its competitors are experimenting different types of autonomous driving vehicles in the United States as well as major Chinese cities where regional policies are encouraging futuristic transportation technology.

What WeRide has to say

WeRide’s spokesperson said, “Capital’s attitude is shifting and increasingly bullish about autonomous driving and its commercial future following the COVID-19 pandemic [in China]. Many investments are happening in this space because investors don’t want to miss out on any potential leaders in autonomous driving, our Series B round has attracted a lot of interest.”.

“We employ a highly-skilled technology team of more than 200 employees globally, 70% of whom are R&D engineers. Our core management team all has extensive domestic and international experience in technology development and business operations in both China and the USA at companies such as Google, Facebook, Microsoft, Baidu, DiDi, Cisco, and others,” they also added.

About WeRide

WeRide
WeRide

WeRide is a mobility company driven by AI technology and Robotics. It was founded in Guangzhou, Guangdong, China by Qing Lu, Tony Han, Yan Li at April 2017.

The company has committed itself to new mobility services that will be accessible and beneficial to everyone. It claims that it is China’s first-ever L4 autonomous driving technology start-up company to obtain strategic investment from a top-tier global automaker alliance Renault-Nissan-Mitsubishi.

About Yutong

Yutong
Yutong

Yutong bus is a large-scale advanced manufacturing company concentrated in the R&D, manufacturing and trades of bus products. Its central factory is situated in Zhengzhou Yutong Industrial Park, Zhengzhou, Henan province. Its everyday capacity has reached above 340 buses. Till now, it has developed into the biggest and the most technologically exceptional manufacturing centre of large and medium-sized buses across the globe.

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