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Chinese autonomous vehicle company WeRide raises $200 million from bus maker Yutong

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WeRide, a Chinese startup developing autonomous vehicles, said on Wednesday it had raised $200 million from Yutong Group, the parent of bus maker Zhengzhou Yutong Bus Co Ltd, and the two companies would develop self-driving buses together.

FILE PHOTO: A WeRide autonomous taxi is seen in Guangzhou, Guangdong province, China May 15, 2020. REUTERS/Yilei Sun/File Photo

It said in a statement it would develop autonomous minibuses, city buses and other commercial vehicles with Yutong.Guangzhou-based WeRide, which is also backed by the Nissan-Renault-Mitsubishi alliance, said it had developed a self-driving minibus with Yutong, which does not have a steering wheel. Tony Han, chief executive of the three-year-old startup, told Reuters earlier this year the company was looking to expand into different types of vehicles, including trucks.

 

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