WeRide Inc.(US:WRD) 3 6 Ke·2025-06-24 00:13Market Overview - The global Robotaxi market is projected to reach $1.95 billion in 2024 and $43.76 billion by 2030, with a forecasted market size of 834.9 billion yuan by 2030 according to Tianfeng Securities [1] Competitive Landscape - Small Horse Intelligent (小马智行) and WeRide (文远知行) are the leading players in the autonomous driving sector, with significant differences in their operational strategies and technology focus [2][5] - Small Horse Intelligent emphasizes redundancy and safety in its technology, while WeRide focuses on cost optimization and a diversified product matrix [7][9] - Both companies have raised approximately $1.3 billion in funding, indicating strong investor interest in the autonomous driving sector [9] Financial Performance - Small Horse Intelligent's revenue from 2022 to 2024 was $68.39 million, $71.90 million, and $75.03 million, totaling approximately $215 million [16] - WeRide's revenue during the same period was 528 million yuan, 402 million yuan, and 250 million yuan, totaling approximately 1.18 billion yuan, indicating a significant decline in revenue [16] - As of the end of 2024, WeRide's total assets were 7.694 billion yuan, with a net asset growth of 331.52%, while Small Horse Intelligent's total assets were $1.051 billion, reflecting a 40.70% increase [18][19] Strategic Initiatives - Small Horse Intelligent is focusing on the Chinese market, with plans to expand its Robotaxi fleet to 1,000 vehicles by the end of 2025, while WeRide is pursuing a global expansion strategy [21] - Both companies are engaged in a competitive race for the title of "Robotaxi first stock," with WeRide successfully listing on NASDAQ first, achieving a market cap of $4.491 billion on its debut [12] Technology and Innovation - Small Horse Intelligent's technology emphasizes a dual approach of Robotaxi and Robotruck, utilizing a multi-sensor fusion strategy for its seventh-generation Robotaxi [7] - WeRide has developed a diverse product matrix that includes Robotaxi, Robobus, Robovan, and Robosweeper, showcasing its adaptability across various scenarios [9] Market Dynamics - The competition between Small Horse Intelligent and WeRide is characterized by a focus on "technical depth" versus "scene breadth," indicating a long-term strategic battle in the autonomous driving space [22]