Chinese autonomous driving firm WeRide is considering Australia, South Korea, Japan, and Southeast Asia as potential new markets for expansion, its chief executive said on Thursday.
Expansion Plans
The expansion push comes as leading Chinese robotaxi firms race to establish overseas footholds, seeking new growth markets and diversified revenue streams as autonomous driving technology moves closer to commercial deployment globally.
WeRide CEO Tony Han told Reuters that the company is talking with regulatory authorities in Australia about the possibility of expansion.
Other potential markets include Southeast Asia, South Korea, and Japan, he said, adding that the company was also in talks with European countries.
The Guangzhou-based firm entered Denmark earlier in August, extending its European footprint to a sixth country.
WeRide’s autonomous vehicles now span more than 60 cities across 13 countries.
Financial Performance
The company’s second-quarter overseas revenue grew 164% from a year earlier, outpacing an 82% increase in total quarterly revenue, according to its disclosure on Wednesday.
The company’s EBITDA loss narrowed 8.1% year-on-year in the second quarter.
WeRide targets achieving positive cash flow in a single quarter by 2028, with a full-year break-even anticipated in 2029.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
