WeRide plans to raise $308 million in a Hong Kong IPO

Chinese autonomous vehicle company WeRide intends to sell its shares in Hong Kong for HK$27.10 each in an effort to raise HK$2.39 billion (US$307.7 million) through an IPO. The anticipated cost is over 4% less than WeRide’s Monday close of $10.90 on the Nasdaq.

The Guangzhou-based mobility company is scheduled to go public in the Hong Kong Special Administrative Region on November 6, the same day as rival Pony AI Inc. Pony AI Inc. is listed on the mainland, having raised HK$6.7 billion in New York. In the US, where delisting fears have been simmering, both businesses went public last year, increasing Hong Kong’s allure as a potential destination.

WeRide secures funding to expand global operations

The autonomous-driving startup offering has Morgan Stanley and China International Capital Corp as joint sponsors. JPMorgan Chase & Co. is also facilitating the transaction. As reported by the Chinadaily news outlet, the money raised from the offering will be used by WeRide to advance its autonomous driving technology, increase the commercialization of its robotaxis and ride-hailing services, and expand internationally.

The outlet reported that investors in the share sale have included Singapore’s Temasek Holdings Pte, automotive supplier Robert Bosch GmbH, Uber Technologies Inc., and Grab Holdings Ltd. 

The autonomous-driving startup explained that the involvement of Bosch, Uber, and Grab not only offers substantial financial support but also signifies close cooperation across markets, technologies, ecosystems, and international operations.

According to the Guangzhou-based mobility company, the close collaboration across markets and financial support promotes the widespread commercialization of WeRide’s autonomous cars. Additionally, the Guangzhou-based mobility company has previously benefited from strategic investments from top-tier international industry partners like Uber, NVIDIA, Bosch, and Renault-Nissan.

In a press release released on October 28, WeRide claimed to be the only tech company with cars that have autonomous driving licenses in seven different countries. WeRide emphasized that more than 30 cities in 11 countries, including China, the United Arab Emirates, Saudi Arabia, Switzerland, France, Singapore, and Japan, have seen the deployment of its cars. The Guangzhou-based mobility company presently operates more than 700 robotaxis and more than 1,500 AVs worldwide.

WeRide reported solid financial results for the second quarter of 2025, demonstrating the company’s rapid expansion and growing market traction. Total revenue increased 60.8% year over year (YoY) to RMB 127.2 million (US$17.8 million), indicating undeniable and accelerating commercial momentum. 

2Q2025 Robotaxi revenue increased 836.7% year-over-year to RMB 45.9 million (US$6.4 million), marking the highest quarterly revenue since the company’s founding. The Robotaxi business accounted for 36.1% of total revenue in 2Q, the greatest quarterly revenue concentration since 2021. Also in 2Q2025, gross profit increased 40.6% year-over-year to RMB35.7 million (US$5.0 million), with an industry-leading margin of 28.1%.

WeRide launches Robotaxi, Robobus pilot in the UAE

On October 2, in collaboration with the Ras Al Khaimah Transport Authority (RAKTA), WeRide announced the start of Robotaxi GXR and Robobus pilot operations in the UAE.

The launch marked WeRide’s first deployment in Ras Al Khaimah and expansion into a third emirate in the UAE. By incorporating WeRide’s autonomous vehicles (AVs) into Ras Al Khaimah’s public transportation network, the trial sets the stage for further national commercialization of these vehicles. WeRide claimed to be the only AV company operating in Ras Al Khaimah and the only partner chosen for the emirate’s smart mobility policy.

The Guangzhou-based mobility company announced that starting October 2, WeRide’s Robobus will operate between nine stations on Al Marjan Island. The routes will link hotels, resorts, and monuments such as the Pullman Hotel, Hampton by Hilton, and Mövenpick Resort, with plans to expand into Mina Island. WeRide emphasized that the Robotaxi GXR will provide autonomous mobility beyond tourist destinations into the everyday lives of locals in Ras Al Khaimah’s city core.

According to WeRide, commercial operations are expected to start in early 2026 as part of RAKTA’s public transportation network. Customers will be able to use RAKTA’s digital mobility app to schedule Robotaxi rides and monitor the whereabouts of Robobuses. A safety officer will be present when services begin, and after regulatory permission, totally autonomous operations are anticipated in a later stage.

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