WeRide is part of a wave of Chinese tech firms expanding into Singapore, with the city-state serving as a "regional center" for the company's Asia-Pacific market expansion. The firm, which was valued at $4.4 billion last year, has also confidentially filed to go public in the U.S. in March.
Key takeaways:
- WeRide, a Chinese autonomous vehicle company, has secured two licenses from Singapore's Land Transport Authority to test its self-driving buses on public roads.
- The company has also previously secured a license to test its robotaxis in the United Arab Emirates and holds various levels of AV permits in the U.S. and China.
- WeRide has been preparing to enter foreign markets for months, building relationships with regulators and business partners. Its investors include SMRT, a major public transport operator in Singapore, and K3 Ventures, a local investment firm.
- WeRide, valued at $4.4 billion last year, confidentially filed to go public in the U.S. in March.