Actionable insights straight to your inbox


Chinese Autonomous Vehicle Startup WeRide Gets Permit To Test Driverless Cars in San Jose

The California DMV has given WeRide permission to test two self-driving cars on specified streets.

Image source: WeRide

The California Department of Motor Vehicles issued a permit to Chinese driverless car start-up WeRide Corp to test autonomous vehicles on public roads in San Jose without a safety driver behind the wheel. 

The DMV, which regulates autonomous vehicle testing in the state, said WeRide was given permission to test two self-driving cars on specified streets during daytime hours, Monday to Friday, weather permitting.

In California, six other companies currently are permitted to test autonomous vehicles without a safety driver in the car including Alphabet’s Waymo, Baidu, Alibaba-backed AutoX and GM's majority owned Cruise. 

According to the DMV, 56 companies, including WeRide, have an active permit to test autonomous vehicles with a safety driver present. Other permit-holders include Apple, BMW, Honda, Intel, Lyft, Tesla and and Toyota. 

Founded in 2017, WeRide is one of China’s most well-funded autonomous vehicle technology startups with backers that include bus maker Yutong, facial recognition company SenseTime and Alliance Ventures, the venture capital arm of Renault-Nissan-Mistubishi. 

The vast majority of its operations are in China, but WeRide maintains a research and development facility in Silicon Valley.

During its most recent round of funding in January, WeRide raised $310 million, resources that chief executive officer Tony Han said will help it in its push to commercialize self-driving technology. 

Han told CNBC last year that he predicts the large-scale application of self-driving taxis will occur between 2023 and 2025. He also expects WeRide will start to make money from the business in 2025.

WeRide is also currently running a robotaxi pilot in China’s southern city of Guangzhou. The project, launched in 2019, has since expanded and enables passengers to hail rides through Alibaba’s Amap app. 


Source: Equities News

Deep employee engagement is vital – what are the best ways to build it?
Many people think of position size in terms of how many shares they own of a particular stock. But it’s much smarter to think of it in terms of what percentage of your total capital is in a particular stock.