Marking world’s first self-driving startup investing in mobility service platform
WeRide, the global leading Level 4 autonomous driving technology company, announced strategic investment in mobility service platform ONTIME to engage in comprehensive and large-scale Robotaxi service. The investment is the first of its kind in autonomous driving industry, marking the world’s first AD startup to invest in a mobility service platform.
WeRide hosted a signing ceremony at the World Economic Forum Future Automotive and Mobility Conference held today in Guangzhou, China. Besides the investment deal, the company also signed strategic cooperation agreement with ONTIME and China’s major automaker Guangzhou Automobile Group (GAC Group) at the ceremony. Tony Han, founder and CEO of WeRide, Qinghong Zeng, GAC Chairman, and Hua Jiang, CEO of ONTIME attended and witnessed the signing. The three parties will give full play to their own advantages to jointly promote the development and manufacturing of purpose-built Robotaxis and commercial operation.
WeRide has been promoting the Robotaxi services through its own AD service platform WeRide Go since 2019 and partnerships with various mobility service platforms. Through the latest strategic investment, WeRide will be able to leverage ONTIME’s experience in mobility service and know-how in platform operations. ONTIME offers a wide range of app-based services across primary cities in the Greater Bay Area, such as Guangzhou, Foshan, Zhuhai, Shenzhen and Dongguan, including ride hailing, hitch, enterprise solution and other forms of shared mobility services. It will help guarantee efficiency and safety for the commercial operation of WeRide’s Robotaxi fleets.
Leveraging the strategic investment from GAC in WeRide, the partnership among WeRide, GAC and ONTIME will be empowered to offer industry leading Robotaxi products and services. The alliance will work together to improve Robotaxi riding experience and connect AD technology with the public, enabling mass commercial operations of Robotaxis. The cooperation is a strong endorsement of WeRide’s Triangle Model for Cooperation, which integrates autonomous driving technology, automakers, and service platforms, bringing safe, green, affordable, and convenient self-driving services to the public.
About WeRide
WeRide is a global leading company that develops Level 4 autonomous driving technologies, bringing smart cities with new products, new business models and new experiences.
WeRide has received strategic investments from top-tier global automakers including Renault-Nissan-Mitsubishi Alliance, Yutong Group and GAC Group. It is the first startup in the world to hold driverless test permits in both China and the US.
Through strategic alliances with car makers, mobility and logistics service platforms, WeRide offers an all-rounded product mix of Robotaxi, Mini Robobus and Robovan to provide multiple services including online ride-hailing, on-demand transport and urban logistics.
WeRide launched China’s first Robotaxi service, completely open to the public, in November 2019, in Guangzhou, China, covering an area of 144 square kilometers. WeRide has also conducted commercial pilot operations and fully driverless testing for Mini Robobus and Robovan.
Established in 2017, WeRide is headquartered in Guangzhou, China, and maintains R&D and operation centers in Beijing, Shanghai, Shenzhen, Nanjing, Wuhan, Zhengzhou and Anqing, as well as San Jose in the US. It employs a highly skilled team of over 800 employees around the globe and has extensive domestic and international experience in R&D, business development and operations.
For more information, please visit:
Website: www.weride.ai; Medium: https://werideai.medium.com/; twitter/LinkedIn/YouTube: WeRide.ai.
About GAC Group
Guangzhou Automobile Group Co., Ltd (GAC) was incorporated in June 2005, which is formerly known as Guangzhou Automobile Group Ltd. It is the first Chinese large automobile group listed in both Hong Kong and Shanghai Stock Exchanges. With its business scope covering R&D, automobile manufacturing, parts& components, auto trade, auto finance and mobility service etc., it is also one of the automobile groups with the most complete industrial chain layout in China. It ranked the 176th among Fortune Global 500 in 2021.
At present, there are a dozen of well-known enterprises and R&D organizations affiliated to GAC, including GAC Honda, GAC Toyota, GAC Motor, GAC AION, GAC R&D Center, GAC FCA and GAC Mitsubishi. In 2020, both its production and sales amounted to over 2 million vehicles, with consolidated business revenue of 395.5 billion RMB, a YoY growth of 5.87%, and net profit after extraordinary gains and losses attributable to shareholders amounted to 4.8 billion RMB, a YoY growth of 25.17%.
Based on GAC R&D Center, GAC adheres to independent research and development. The accumulative patent application exceeds 8400 cases, among which almost 3000 are invention patents, ranking the top among Chinese automobile companies. It focuses on science and technological innovation and has mastered core technologies of NEVs including battery, motor and electronic control.
As a forerunner in autonomous driving field, GAC is also taking the lead in intelligent and connected technological R&D area. It sticks to independent innovation and open cooperation. On the one hand, it strengthens the establishment of independent innovation and core capability system centering on the new trend of automobile development such as software defined vehicle and scenario-oriented. On the other hand, it realizes safe and controllable key technology through open cooperation. GAC works together with partners such as WeRide to develop market-oriented autonomous driving products and promotes the large scale and market application of L4 autonomous driving products.
About ONTIME
“ONTIME” is the mobility technology platform launched by GAC Group, with investment from GAC Group, Tencent and other investors. ONTIME has created its unique “Ripple Mode”, that strives to build safe mobility services with quality experiences in the cities. It offers a wide range of app-based services across core cities in the Greater Bay Area, such as Guangzhou, Foshan, Zhuhai, Shenzhen and Dongguan, including ride hailing, hitch, enterprise solution and other forms of shared mobility services.
As the application platform for advanced auto mobility technology, ONTIME will connect automobile and internet technology to complete the intelligence connected ecosystem for shared-mobility fleet. It is believed that with the “Technology Pillar” — driven by Autonomous Driving technology and the “Eco Pillar” — driven by the mobility services ecosystem, ONTIME will ultimately become the leading MaaS platform in the future.
