WeRide Robotaxis Drive 761% Revenue Surge

WeRide, a prominent autonomous driving technology company, has demonstrated exceptional growth, particularly in its robotaxi sector. The company's third-quarter results revealed a staggering 761% year-over-year increase in robotaxi revenue, contributing significantly to a 144% rise in total sales, which reached $24 million. Despite substantial investments in technology and global expansion, WeRide successfully narrowed its net loss by 71%.

The company's strategic global expansion is evident with operations spanning 11 countries and 30 cities, featuring a fleet of over 1,600 autonomous vehicles. Notably, WeRide obtained the world's first city-level fully driverless robotaxi permit outside the United States in Abu Dhabi, launching commercial services through Uber. Similar ventures have been initiated in Switzerland and Saudi Arabia, complementing its continued growth within China.

WeRide employs a flexible business model, owning and operating its fleet in China via the WeRide Go app, while adopting an asset-light strategy internationally. This approach involves partnerships with ride-sharing giants like Uber and Grab, generating revenue through vehicle sales, licensing fees, and commission on fares. The company achieved a 33% gross profit margin, signaling a viable path to profitability.