Chinese autonomous driving startup WeRide bags $200 mn in funding

WeRide, a startup developing autonomous driving capabilities, has raised a $200 mn strategic round from Chinese bus maker Yutong.

After the funding round, WeRide will join hands with Yutong, a 57-year-old company, aiming to manufacture autonomous driving minibusses and city buses together. The partners have already jointly developed a front-loaded driverless minibus for mass-production.

Autonomous driving startups in China are racing to showcase their progress, in part to attract funding for their cash-bleeding businesses.