WeRide raises $200 million from Yutong Group in Series B1 funding

Shanghai (Gasgoo)- WeRide, a Guangzhou-based autonomous driving startup, announced on Dec. 23 it has closed its Series B1 financing, which raised $200 million from Chinese commercial vehicle manufacturer Yutong Group, the largest ever investment in autonomous driving made by a Chinese automaker.

The startup is now the only autonomous driving company to gain investment from leading automakers of both commercial vehicles and passenger vehicles (the Renault–Nissan–Mitsubishi Alliance).

WeRide's Series B1 Funding with a Strategic Investment from Yutong Group

WeRide said it will join hands with Yutong Group to boost the application of autonomous driving technology in minibuses, city buses and other fields. They will explore diverse intelligent means of smart mobility to promote the large-scale commercial use of fully driverless vehicles.

Fully Driverless Mini Robobus Developed by WeRide and Yutong

WeRide and Yutong Group has already co-developed China's first fully self-driving mini Robobus that is particularly designed for urban open roads. This is a factory-installed production model devoid of steering wheel, accelerator or brake. Armed with WeRide's full-stack software and hardware solutions, the vehicle is able to cope with various complex traffic conditions in cities safely and efficiently.

WeRide's Fully Driverless Robotaxi

“The new funding round has imbued WeRide with a strong impetus for continuing innovations, and more importantly, secured us another vital strategic investor. Yutong Group's investment is a strong acknowledgement to WeRide's robust technology. We have extended the application of autonomous technology to passenger vehicles and buses. WeRide and Yutong Group will engage in in-depth cooperation in multiple key domains, such as R&D, vehicle platforms and mobility services, and we will draw on each other's strengths to create a brand new urban mobility and transportation system,” said Tony Han, CEO and Co-founder of WeRide.

Yutong Group is at the forefront of intelligent connected bus area. In 2015, Yutong reached a R&D milestone for its first generation of autonomous products, and conducted the world's first open road trial operation of robobuses in Zhengzhou, Henan Province. The company presented its 5-meter autonomous minibus at the Boao Forum for Asia Conference in March 2019, and put the vehicle into open road trial operation two months later.