WeRide raises more funds, puts value at $3.3 billion

by SpeedLux
WeRide

WeRide said it raised “hundreds of millions” of dollars in a funding round that it said valued the company at $3.3 billion.

WeRide is a China-based autonomous driving startup which is backed by Nissan Motor, Renault and Mitsubishi Motors.

It is testing vehicles in California, and in China’s southern city of Guangzhou – where it is headquartered – and the central city of Zhengzhou, did not reveal details on the size of the funding.

Investors taking part in the recent funding round include IDG Capital and Homeric Capital, WeRide said on Thursday. It raised $310 million in January.

WeRide is going for what is known in the auto industry as a level 4 autonomous standard, in which the vehicle can handle all aspects of driving in the majority of the circumstances with no human intervention.

Last month it got a permit to test two passenger vehicles on California’s public roads without having a safety driver in the front section.

Automakers and technology companies are investing billions of dollars in autonomous driving, as they are keen to take an early lead in the growing sector.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.