BEIJING (Reuters) – WeRide, a Chinese startup developing autonomous vehicles, said on Wednesday it had raised $200 million from Yutong Group, the parent of bus maker Zhengzhou Yutong Bus Co Ltd, and the two companies would develop self-driving buses together.
WeRide, which is testing self-driving passenger vehicles in California and China’s southern city of Guangzhou, did not disclose its valuation.
It said in a statement it would develop autonomous minibuses, city buses and other commercial vehicles with Yutong.
The move comes as autonomous driving companies are expanding their product lineups.
Guangzhou-based WeRide, which is also backed by the Nissan-Renault-Mitsubishi alliance, said it had developed a self-driving minibus with Yutong, which does not have a steering wheel.
Tony Han, chief executive of the three-year-old startup, told Reuters earlier this year the company was looking to expand into different types of vehicles, including trucks.
WeRide is pursuing a level 4 autonomous standard, in which the vehicle can handle all aspects of driving in most circumstances with no human intervention.
(Reporting by Yilei Sun and Brenda Goh; Editing by Mark Potter)