Key facts
- WeRide is considering Australia, South Korea, Japan, and Southeast Asia as potential new markets.
- The company is in talks with regulatory authorities in Australia.
- WeRide's overseas revenue grew 164% in the second quarter.
- The company aims to deploy 5,000 Level 4 high-automation vehicles by the end of 2024.
- WeRide is developing new robotaxi models with Geely Farizon and GAC.
Chinese autonomous driving company WeRide is exploring expansion into new international markets, including Australia, South Korea, Japan, and Southeast Asia, according to CEO Tony Han.
WeRide is currently in discussions with Australian regulatory authorities regarding potential operations. The company has also expressed interest in Southeast Asia, South Korea, and Japan, and is in talks with European countries.
This international push comes as WeRide's overseas revenue surged 164% in the second quarter, significantly outpacing its total revenue growth of 82%. The company recently expanded its European footprint to Denmark, marking its sixth country on the continent, and is preparing to launch commercial robotaxi services in Singapore and Hong Kong.
WeRide aims to deploy 5,000 Level 4 high-automation vehicles by the end of the year, including 2,600 robotaxis. The company is also developing new robotaxi models with partners Geely Farizon and GAC, with long-term goals of deploying tens of thousands by 2030 and up to 1 million by 2035.
Beyond robotaxis, WeRide is experiencing strong demand for its advanced driver-assistance systems from both Chinese and international automakers, which it anticipates will become a profitable business segment. The company reported a narrowed EBITDA loss in the second quarter and targets achieving positive cash flow by 2028 and full-year break-even by 2029.