Update: Updated based on WeRide's SEC filing.
- Uber has committed to an additional $100 million equity investment in WeRide on top of its existing investment.
- The investment, which will close in the coming months, will be Uber's largest investment in autonomous driving to date.
Chinese autonomous driving tech company WeRide (NASDAQ: WRD) today announced that US ride-hailing giant Uber Technologies (NYSE: UBER) has committed to an equity investment of $100 million, in addition to its existing investment.
The investment is expected to close in the second half of 2025, and the price will be based on the volume-weighted average price of WeRide's American Depositary Shares (ADSs) prior to the closing of the transaction, WeRide said in an SEC filing.
Chinese media outlet Cailian first reported the investment earlier today, citing people familiar with the matter, saying it was Uber's largest investment in autonomous driving to date.
WeRide did not mention when Uber previously invested in it. CnEVPost could not find the information in WeRide's prospectus or website.
WeRide was founded in 2017 and is one of the first companies in China to focus on autonomous driving solutions. On October 25, 2024, the company went public on Nasdaq.
In September 2024, WeRide entered into a partnership with Uber to advance its robotaxis for use on the Uber platform.
In December 2024, the companies began robotaxi services in Abu Dhabi, with a fleet size that is set to reach 50 units by mid-2025.
Last month, WeRide and Uber expanded their partnership to Dubai.
Yesterday, WeRide announced that the two companies will further expand their strategic partnership to include 15 new cities worldwide over the next five years, including Europe and the Middle East.
Following the launch of the robotaxi service in Abu Dhabi and soon in Dubai, the two companies have committed to expanding the robotaxi partnership to several new cities each year outside of the US and China.
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