BEIJING, March 12, 2025 (GLOBE NEWSWIRE) -- WeRide (NASDAQ:WRD), a global leader in autonomous driving technology, today announced that the company has officially received the permit to conduct commercial Robotaxi ride-hailing services between the Beijing Economic-Technological Development Area (BDA) and Beijing South Railway Station. This milestone marks the first commercial Robotaxi operation covering Beijing's core urban area. With this development, WeRide's commercial Robotaxi operational area in Beijin ...

Core Insights - WeRide has received the permit to conduct commercial Robotaxi ride-hailing services in Beijing, marking a significant milestone in the autonomous driving sector [1][7] - The operational area for WeRide's Robotaxi services in Beijing now exceeds 600 square kilometers, comparable to the total area of the six main districts of downtown Shanghai [2] - The approval for operations at Beijing South Railway Station demonstrates the reliability and safety of WeRide's Robotaxi in complex traffic scenarios [4] Company Developments - WeRide is the world's first publicly listed Robotaxi company and has launched regular operations in nearly 10 cities globally, including major cities in China and international locations like Abu Dhabi and Zurich [5] - The partnership with Uber in December 2024 to launch the largest Robotaxi fleet in the Middle East signifies WeRide's strategic expansion efforts [5] - Future plans include expanding service areas in Beijing and replicating successful business models in overseas markets to drive global commercialization of Robotaxi services [6]

Group 1 - Beijing Jingshuo Automobile Co., Ltd. has been established with a registered capital of 1 million yuan [1] - The company is involved in the manufacturing of automotive parts and components, electric vehicle manufacturing, and sales of new energy vehicle battery swap facilities [1] - Guangzhou Wenyan Zhixing Technology Co., Ltd. holds 100% ownership of Beijing Jingshuo Automobile Co., Ltd. [1]

Group 1 - Renault Group has announced a partnership with WeRide to conduct L4 autonomous minibus testing in multiple locations across Europe [1][2] - The autonomous minibus pilot project in Barcelona features a 2.2-kilometer route for public experience, while a 3.3-kilometer route in Valence connects key locations for 3,000 employees [2][3] - The autonomous minibus initiative aims to enhance public transport accessibility, efficiency, and sustainability in urban areas [3][4] Group 2 - Renault's autonomous driving strategy distinguishes between personal vehicle needs and public transport demands [5] - The company focuses on Advanced Driver Assistance Systems (ADAS) for personal vehicles, while targeting L4 autonomous minibuses for public transport with plans to launch an electric minibus platform by 2030 [6]

Core Insights - WeRide and Renault Group are launching a free autonomous Robobus trial service in Barcelona from March 10th to 14th, showcasing the maturity of automated transport technologies in a complex urban environment [1][5][6] - This trial marks WeRide's first test of their Level-4 autonomous vehicle for public transport in Spain, following previous experiments during the Roland-Garros 2024 tennis tournament [2][3] - The initiative is part of WeRide's international expansion strategy, demonstrating technology leadership beyond Asian markets into Europe, with a focus on sustainable mobility solutions [3] Company Developments - The Robobus will operate on a circular route of over 2 kilometers with four stops, allowing passengers to experience autonomous driving in real traffic conditions [4] - WeRide recently announced its first fully driverless commercial deployment in Europe as part of a shuttle service partnership in France, and has also initiated a commercial autonomous shuttle project at Zurich Airport [3] Industry Context - The collaboration between WeRide and Renault Group emphasizes the shared vision of making smart, sustainable mobility solutions accessible, particularly in European cities aiming for carbon neutrality and Low Emission Zones [1][6]

Core Viewpoint - WeRide Inc. is set to announce its fourth quarter and full year 2024 financial results on March 14, 2025, with a conference call scheduled for the same day [1]. Group 1: Financial Results Announcement - The company will release its financial results before the U.S. market opens on March 14, 2025 [1]. - An earnings conference call will be hosted by the management team at 7:00 AM U.S. Eastern Time on the same day [1]. - Participants must register online in advance to receive dial-in numbers and a unique access PIN for the conference call [1]. Group 2: Company Overview - WeRide is recognized as a global leader and first mover in the autonomous driving industry, being the first publicly traded Robotaxi company [3]. - The company offers a versatile and adaptable autonomous driving platform, WeRide One, which provides products and services ranging from Level 2 to Level 4 [3]. - WeRide addresses a wide range of transportation needs across various industries, including mobility, logistics, and sanitation [3]. - The company has been acknowledged in Fortune Magazine's "2023 Change the World" list and named in the "2024 Future 50" list [3].

Core Viewpoint - WeRide has received approval to launch its GXR robotaxi service in Beijing, marking a significant milestone for the company, but its financial performance raises concerns for potential investors [1][10]. Group 1: Company Developments - WeRide has been granted permission to operate its fully autonomous GXR on city roads and certain highways in Beijing, showcasing its advanced AI capabilities with over 1,300 tera operations per second (TOPS) [2]. - The company has made strides in global markets, launching its Robotaxi service on the Uber platform in Abu Dhabi in December 2024 and the first autonomous Robobus service in Singapore in July 2024 [3]. - A pilot project in Switzerland is planned for the second quarter of 2025, with the deployment of several self-driving vehicles [4]. Group 2: Financial Performance - For the nine-month period ending September 30, 2024, WeRide reported a 14% decline in revenue and a 22% decrease in net loss compared to the same period in 2023 [5]. - The projected full-year 2024 revenue is estimated to be between 350 million renminbi and 380 million renminbi ($48 million to $52.1 million), indicating a continued decline from previous years [6]. - Operating income has worsened, with losses increasing from 779.2 million renminbi in 2022 to 1.57 billion renminbi in 2023 [7]. Group 3: Competitive Landscape - WeRide faces competition from Pony AI, which has launched robotaxi services in Guangzhou and has made progress in robotrucking, showing growth in revenue and narrowing losses [8]. - The current financial struggles of WeRide make Pony AI a more attractive option for risk-averse investors [8]. Group 4: Investment Considerations - While WeRide's advancements in autonomous mobility are noteworthy, the stock may not be a buy at this time due to ongoing financial challenges [10]. - Investors are advised to wait for improvements in revenue generation and profitability before considering an investment in WeRide [11].

Core Insights - WeRide has announced the first fully driverless commercial deployment of its Robobus in Europe, in partnership with beti, Renault Group, and Macif, featuring an L4-level automated mobility service in France's Drôme region [1][5]. Company Overview - WeRide is a global leader in autonomous driving technology, leveraging its experience from markets in China, Singapore, and the Middle East to expand its operations in Europe [3]. Deployment Details - The Robobus service will operate on a 3.3 km route connecting the Valence TGV station, long-term parking, and a business park with 150 companies employing 3,000 people [4][5]. - The service will utilize several six-meter-long robobuses, each capable of carrying eight passengers, and will begin operations on March 10 [2]. Technology and Safety - WeRide's L4 automation allows for speeds of up to 40 km/h and includes dynamic obstacle avoidance capabilities [7]. - Beti's "hypervision" solution adds a second layer of safety for automated driving, ensuring continuous system improvement [4]. Operational Phases - The initial learning phase will run from March 10 to April 19, operating Monday to Friday under real passenger transport conditions, aimed at demonstrating service relevance, technology safety, and operational efficiency [8]. - A second target operating phase is scheduled to start in July [8]. Environmental Impact - The deployment aims to create a low-carbon alternative for transportation between the parking area and the station, promoting sustainable last-mile transport [6].

Core Viewpoint - WeRide has announced the first fully driverless commercial deployment of its Robobus in Europe, marking a significant step in the expansion of autonomous driving technology in the region [1][5]. Group 1: Deployment Details - The Robobus service will operate in the Drôme region of France, specifically connecting the Rovaltain business park and the Valence TGV station [2][4]. - The service will utilize several six-meter-long robobuses, each capable of carrying eight passengers, and will commence operations on March 10 [2][5]. - The route spans 3.3 kilometers and serves key locations including a train station, long-term parking, and a catering hub for local businesses [4][5]. Group 2: Technology and Safety - WeRide's L4-level autonomous technology allows for speeds of up to 40 km/h and includes dynamic obstacle avoidance capabilities [5]. - Beti's "hypervision" solution adds an extra layer of safety for automated driving, ensuring continuous system improvement [4]. Group 3: Collaboration and Market Position - The partnership with beti, Renault Group, and Macif reinforces WeRide's position as a global leader in L4 autonomous driving deployment, leveraging its experience in markets such as China, Singapore, and the Middle East [3][5]. - The deployment is seen as a pioneering effort in Europe, being the first high-level automated service connecting a railway station to a business park [5][6]. Group 4: Operational Phases - The initial learning phase will run from March 10 to April 19, focusing on real passenger transport conditions to validate service relevance, technology safety, and operational efficiency [7]. - A second operational phase is planned to begin in July, following the initial learning phase [7].

Core Insights - WeRide has received approval to launch its latest Robotaxi model, the GXR, for fully unmanned paid ride-hailing services in Beijing, marking a significant milestone in the autonomous driving industry [1][4] - The GXR is the second Robotaxi model from WeRide to achieve fully driverless commercial operations in Beijing, following its initial deployment in Abu Dhabi [1][5] Company Developments - The GXR service area includes key regions within the Beijing Economic-Technological Development Area and is approved for commercial operations on highways, including routes to Beijing Daxing International Airport [2] - WeRide has rapidly progressed to fully unmanned commercial operations within four months of launching the GXR, showcasing the company's efficiency in deploying autonomous driving technology [3][4] - The GXR features advanced technology, including L4-level redundant drive-by-wire chassis architecture and the world's first hidden B-pillar design, accommodating up to five passengers with ample space for luggage [4] Market Position - WeRide is the only autonomous driving technology company to achieve commercial Robotaxi operations in both China and overseas, with services launched in multiple cities including Beijing, Guangzhou, and Abu Dhabi [5] - The company plans to expand its Robotaxi operations in Beijing to several hundred units by 2025, indicating a strong growth trajectory in the autonomous mobility sector [6]