Chinese startup WeRide Inc. has been approved to conduct autonomous taxi passenger testing in California, USA
Chinese startup WeRide Inc. has obtained a permit in California, USA to conduct passenger-carrying tests on autonomous vehicles. The company plans to go public for the first time in New York with a valuation of up to $5 billion, marking a significant step in commercializing autonomous taxi services in the United States. Currently, only Alphabet's Waymo operates fully autonomous self-driving taxis in the US, while WeRide Inc. will be the first company to obtain a permit in California. Additionally, the company has also obtained autonomous driving permits in Singapore and the United Arab Emirates
Reuters, August 13 - According to the permit issued by the California Public Utilities Commission, Chinese autonomous driving startup WeRide Inc. has been approved to test unmanned vehicles carrying passengers.
Sources revealed that the company is aiming for a valuation of up to $5 billion in its initial public offering (IPO) in the New York market, despite the U.S. preparing to ban vehicles equipped with Chinese-developed systems.
Earlier this month, the California Public Utilities Commission (CPUC) issued a three-year permit allowing WeRide Inc. to test vehicles with passengers on board with or without a driver. However, the company is not allowed to provide ride-hailing services to the general public or charge any fees.
In a statement to Reuters, CPUC mentioned that WeRide Inc. has 12 vehicles in operation and will be operating in San Jose and surrounding areas.
Developing and commercializing autonomous taxis in the U.S. is much more challenging than imagined, due to regulatory barriers, opposition from city management agencies, and public dissatisfaction.
Alphabet's (GOOGL.O) Waymo is the only company in the U.S. operating fully autonomous self-driving taxis, with approximately 700 vehicles.
General Motors' (GM.N) Cruise resumed testing with safety drivers in April this year, after one of its vehicles hit a pedestrian last year.
Founded in 2017, WeRide Inc. obtained its first California permit in 2021 to test vehicles without passengers. The company also manufactures autonomous trucks, buses, and sweepers, and has obtained unmanned driving permits in Singapore and the United Arab Emirates.
The company did not immediately respond to Reuters' inquiries for further details
