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(MSBHF), NISSAN MTR SPON AD (OTC:NSANY) - Chinese Autonomous Driving Startup WeRide Raises $200 Million From Yutong Group
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Chinese autonomous driving startup WeRide bags $200M in funding
WeRide, one of China’s most-funded startups developing autonomous driving capabilities, said on Wednesday that it has raised a $200 million strategic round from Chinese bus maker Yutong.
Mega investments aren’t uncommon at companies like WeRide developing the next-generation level 4 driving standard, which denotes that the car can handle the majority of driving situations independently without human intervention.
WeRide did not disclose its valuation for this round, which is the first tranche of its Series B round, a company spokesperson told TechCrunch.
The new funding will see WeRide joining hands with Yutong, a 57-year-old company, to make autonomous-driving minibuses and city buses as well as work together on R&D, vehicle platforms and mobility services. The partners have already jointly developed a front-loaded driverless minibus for mass-production. The model, which comes without a steering wheel, accelera