After years of rapid growth in its home market, China’s autonomous vehicle (AV) startups are now expanding into international territories. WeRide, a notable player in this space, has particularly intensified its licensing efforts.
On Monday, WeRide announced it has secured two essential licenses from Singapore that will facilitate large-scale public road testing for its robobuses. These permits, known as M1 and T1, were issued by Singapore's Land Transport Authority (LTA) and will allow WeRide’s self-driving buses to operate in key areas, including the One North tech cluster and the National University of Singapore.
This announcement follows WeRide's earlier achievement of a self-driving license in the United Arab Emirates, enabling the testing of various vehicles, including robotaxis, as part of the country's ambitious plans to revolutionize its transport system. Additionally, WeRide holds multiple AV permits across the U.S. and in its home country of China.
Recently, China's AV companies have shifted focus to commercial ventures, moving away from the costly pursuit of Level 4 robotaxis. For instance, Deeproute is strengthening partnerships with car manufacturers, while WeRide is channeling investment into autonomous buses that travel on fixed routes, at lower speeds, and face fewer unpredictable traffic conditions.
As one of the world’s most densely populated cities with an aging workforce, Singapore began its push into AV technology in 2014 to address land and labor challenges. According to the LTA, the city-state, which boasts a population exceeding five million, has taken a measured approach in deploying AVs and has successfully completed the initial phase of testing in controlled environments.
Now, Singapore is poised to transition into the second phase of AV development, allowing self-driving vehicles for both passenger and utility purposes to operate in designated areas. The ecosystem has attracted various global players in the self-driving industry, including the Aptiv-Hyundai joint venture, Motional, which is actively building and testing robotaxis in the region.
Among the licenses WeRide received is Milestone 1 (M1), which permits AV testing on open roads within specific areas, operated by safety personnel with full vehicle control.
Successfully entering a foreign market often requires extensive relationship-building with regulators and business partners over several months or years, and WeRide has been meticulously enhancing its connections. The company's roster of investors, which has contributed over $1.4 billion in funding, includes SMRT, a significant public transport operator in Singapore, and K3 Ventures, a local investment firm.
On the strategic front, WeRide recently signed cooperation agreements with Woodlands Transport Services, one of the largest private transport providers in the country, and bus service operator EZ Buzz.
WeRide has emerged as a leading example of Chinese tech firms setting their sights on Singapore, garnering attention from prominent political figures. In March, Singapore’s Prime Minister Lee Hsien Loong took a ride in a WeRide robotaxi during a visit to China. According to WeRide’s founder and CEO Tony Han, Singapore is viewed as a “regional center” for the company’s expansion into the Asia-Pacific market.
As one of China's most well-funded AV companies, WeRide achieved a valuation of $5.1 billion following a Series D extension round late last year and has since filed confidentially to go public in the U.S. this March.
The article was updated on December 12, 2023, to include WeRide’s latest valuation.
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