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WeRide Eyes Global Expansion: Australia, Asia Next?
13 Aug
Summary
- WeRide is considering Australia, South Korea, Japan, and Southeast Asia for expansion.
- Second-quarter overseas revenue increased 164%, outpacing total revenue growth.
- The company aims for positive cash flow in a single quarter by 2028.
Chinese autonomous driving company WeRide is actively exploring new international markets, with Australia, South Korea, Japan, and Southeast Asia on its radar for expansion. CEO Tony Han indicated ongoing discussions with Australian regulatory authorities.
This global push is driven by the growing commercial viability of autonomous driving technology and a strategic need for diversified revenue streams. WeRide's overseas revenue saw a substantial 164% increase in the second quarter, significantly outperforming its overall revenue growth.
The company, which recently expanded its European presence to Denmark, now operates in 13 countries. Commercial deployments of its robotaxi service are also slated for Singapore and Hong Kong, with a focus on local hiring and collaboration.
WeRide has set ambitious financial targets, aiming for positive cash flow within a single quarter by 2028 and full-year break-even by 2029. As of July, its global robotaxi fleet exceeded 1,800 vehicles, contributing to a larger level 4 autonomous fleet.
Looking ahead, WeRide plans to deploy 5,000 high-automation level 4 vehicles by the end of the current year. The company is also co-developing new robotaxi models with partners like Geely and GAC, aiming for significant cost reductions and mass deployment by 2030 and 2035.
