Autos

Chinese driverless car start-up WeRide raises $310 million in funding

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A car equipped with WeRide autonomous driving technology in Guangzhou, China.

WeRide

GUANGZHOU, China — Chinese driverless car start-up WeRide has raised $310 million in a new round of funding as it pushes to commercialize its technology.

Yutong Group, a Chinese company that manufactures commercial vehicles including electric buses, lead the funding round.

A number of other new investors jumped on board while existing venture capital firms also participated.

WeRide did not disclose its valuation and declined to comment when contacted by CNBC.

The Guangzhou-based firm is among a handful of companies in China vying to become a leader in driverless car technology. WeRide focuses on building the…



Source cnbc.com

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