Alliance Ventures leads strategic funding in WeRide.ai

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Alliance Ventures, the strategic enterprise capital arm of Renault-Nissan-Mitsubishi, has turn out to be the lead strategic investor of WeRide.ai (previously JingChi.ai), China’s main autonomous driving firm centered on Degree four (L4) self-driving expertise, following completion of the corporate’s Sequence A funding.

The funding in WeRide.ai is the primary funding in China and a part of the Alliance Ventures technique to help entrepreneurs and start-ups on the chopping fringe of next-generation automotive expertise.

Because of the Alliance Ventures help, WeRide.ai will turn out to be the primary Chinese language start-up specializing in L4 autonomous driving to obtain funding from and kind strategic partnership with a world automotive group.

François Dossa, Alliance World Vice President, Ventures and Open innovation, stated: “Autonomous programs are a key precedence of the Alliance as we develop new mobility companies. Our member corporations are dedicated to introducing such applied sciences in key markets equivalent to China, so we’re delighted to be supporting WeRide.ai because it pioneers such full autonomous programs for the demanding Chinese language market-place.”

Tony Han, CEO and co-founder of WeRide.ai stated, “Along with the monetary funding, Renault-Nissan-Mitsubishi and WeRide.ai will additional our relationship by means of strategic cooperation in particular areas. We really consider the following stage of autonomous transportation revolution 2.zero has arrived. WeRide.ai will proceed main the expertise revolution and supply related and significant advantages to everybody.”

WeRide.ai, suggested by Morgan Stanley on the newest funding spherical, is dedicated to creating autonomous driving expertise for China which can dramatically change individuals’s views of automobiles, transportation companies and concrete building design.

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Using the newest funding, WeRide.ai plans to deploy a fleet of 500 autonomous autos in 2019, to build up 5 million kilometers of precise autonomous driving mileage, and conduct operation and commercialization trials in Guangzhou and Anqing with key companions. Since launching its autonomous trial operations in China, WeRide.ai’s autonomous autos have gathered a complete mileage of greater than 60,000 kilometers, and served greater than three,000 passengers worldwide.

Pre-A spherical lead-investor, Qiming Enterprise Capital participated within the newest spherical, which was additionally supported by Hanfor Capital, Atop Capital, Johnson Electrical, Xiaopeng He, Idinvest Companions, and OceanIQ Capital.

WeRide.ai, which presently has greater than 200 staff worldwide – 70% of whom are engineers, is the primary autonomous driving firm in China to make use of 5G community for distant management of a driverless car. The corporate’s objective is to deliver autonomous car operations into Chinese language cities by 2020 and turn out to be the world’s first large-scale business software of autonomous car expertise.

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ABOUT RENAULT-NISSAN-MITSUBISHI

Groupe Renault, Nissan Motor Firm and Mitsubishi Motors signify the world’s largest automotive alliance. It’s the longest-lasting and most efficient cross-cultural partnership within the auto trade. Collectively, the companions bought greater than 10.6 million autos in practically 200 international locations in 2017. The member corporations are centered on collaboration and maximizing synergies to spice up competitiveness. They’ve strategic collaborations with different automotive teams, together with Germany’s Daimler and China’s Dongfeng. This strategic alliance is the trade chief in zero-emission autos and is growing the newest superior applied sciences, with plans to supply autonomous drive, connectivity options and companies on a variety of reasonably priced autos.

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www.alliance-2022.com
www.media.renault.com
newsroom.nissan-global.com
www.mitsubishi-motors.com/en/newsrelease/

ABOUT WeRide.ai

Based in 2017 by Tony Han along with a bunch of gifted people, WeRide.ai has emerged because the main autonomous driving firm aiming to attain large-scale, business deployment of absolutely L4 autonomous autos for the general public. WeRide.ai is dedicated to utilizing synthetic intelligence to ship absolutely autonomous autos that function with out human intervention to understand the atmosphere and ship a secure, strong, and handy Mobility as a Service. WeRide.ai is a privately held firm headquartered in Guangzhou, with workplaces in Sunnyvale, Beijing and Anqing.
www.weride.ai

MEDIA CONTACTS

Caroline Sasia
Alliance Communications, Renault-Nissan-Mitsubishi
+33 (zero) 6 11 30 36 71
caroline.sasia-lallier@alliance-rnm.com

Jinyan Ou
Public Relations, WeRide.ai
jinyan.ou@weride.ai


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