WeRide, Guangzhou, China based driverless car startup has announced that it has raised USD 310 Million in a new round of funding which included organizations like Zhengzhou Yutong Group and multiple state backed stockholders to advertise its technology.
The organization is supported by the alliance of Nissan Motors, Mitsubishi Motors and GroupRenault is among the lead runners in China’s rapidly developing autonomous sector. The brand-new investment declared on Thursday that they will allow the 4-year-old startup to uplift commercialization and research of self-determining technologies.
The association also claims that it will begin evaluating autonomous buses prior this week on an island Guangzhou, its headquarters city, as a part of its critical cooperation with Yutong which contributed USD 200 million of the contemporary funding and is among the leading largest manufacturers.
What the funding is for: WeRide primarily focuses on developing the technology which enables vehicles to be autonomous rather than being only manufactured automobiles.It aims to become an organization which leads industries in self-monitoring car technology.
Legal name of the company: WeRide.ai
Founders of the company: Yan Li, Tony Han, Quing Lu
Other names of the company: Jingchi.ai, Wenyuan Zhixing
About the company: WeRide is a privately held organization founded in 2017 and has a work strength of 200-501 employees and is also associated with computer software industries. Their headquarters is established in San Jose, California. They also deal with various specialties which includes robotics, deep learning, artificial intelligence, motion planning, control. WeRide is a mobility company established in China which creates leading L4 self-determining driving automation. It was the first time in China and second in the world to evaluate fully self-controlled cars on open roads. We have devoted ourselves to new mobility accessories which would be constructive and profitable to everyone. The institution’s primary objective is to focus on strategic alliances among software-based companies, mobile service platforms and car makers.
What the CEO has to say: “The large-scale application of robotaxis will take place between 2023 and 2025. WeRide will begin to make money from the business from 2025 onwards.” said by Tony Han, CEO of WeRide.
“Funding and new investors will give the company the strategic resources to fulfil the goal of commercializing self-driving technology.” said by Yan Li, Co-founder of WeRide.
“We will strengthen the ability and safety of self-driving systems, operating our services while adhering to our services, regulations and strive to bring more self-driving products to the market.” said Quing Lu, Co-founder of WeRide.
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