Alliance Ventures Leads Strategic Investment in WeRide.ai

Paris, Tokyo and Yokohama, Japan (ots/PRNewswire) -

Renault-Nissan-Mitsubishi and WeRide.ai to increase presence in
Chinese autonomous vehicle services

Alliance Ventures, the strategic venture capital arm of
Renault-Nissan-Mitsubishi, has become the lead strategic investor of
WeRide.ai (formerly JingChi.ai), China's leading autonomous driving
company focused on Level 4 (L4) self-driving technology, following
completion of the company's Series A funding.

(Logo: http://mma.prnewswire.com/media/556610/Renault_Nissan_Mitsu
bishi_Logo.jpg )

The investment in WeRide.ai is the first investment in China and
part of the Alliance Ventures strategy to support entrepreneurs and
start-ups at the cutting edge of next-generation automotive
technology.

As a result of the Alliance Ventures support, WeRide.ai will
become the first Chinese start-up specializing in L4 autonomous
driving to receive investment from and form strategic partnership
with a global automotive group.

François Dossa, Alliance Global Vice President, Ventures and Open
innovation, said: "Autonomous systems are a key priority of the
Alliance as we develop new mobility services. Our member companies
are committed to introducing such technologies in key markets such as
China, so we are delighted to be supporting WeRide.ai as it pioneers
such full autonomous systems for the demanding Chinese market-place."

Tony Han, CEO and co-founder of WeRide.ai said, "In addition to
the financial investment, Renault-Nissan-Mitsubishi and WeRide.ai
will further our relationship through strategic cooperation in
specific areas. We truly believe the next stage of autonomous
transportation revolution 2.0 has arrived. WeRide.ai will continue
leading the technology revolution and provide relevant and meaningful
benefits to everyone."

WeRide.ai, advised by Morgan Stanley on the latest funding round,
is committed to creating autonomous driving technology for China
which will dramatically change people's views of cars, transportation
services and urban construction design.

Utilizing the latest investment, WeRide.ai plans to deploy a fleet
of 500 autonomous vehicles in 2019, to accumulate 5 million
kilometers of actual autonomous driving mileage, and conduct
operation and commercialization trials in Guangzhou and Anqing with
key partners. Since launching its autonomous trial operations in
China, WeRide.ai's autonomous vehicles have accumulated a total
mileage of more than 60,000 kilometers, and served more than 3,000
passengers worldwide.

Pre-A round lead-investor, Qiming Venture Capital participated in
the latest round, which was also supported by Hanfor Capital, Atop
Capital, Johnson Electric, Xiaopeng He, Idinvest Partners, and
OceanIQ Capital.

https://www.alliance-2022.com/news/alliance-ventures-leads-strateg
ic-investment-in-weride-ai/

ots Originaltext: Renault-Nissan-Mitsubishi
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Caroline Sasia
Alliance Communications
Renault-Nissan-Mitsubishi
+33-(0)-6-11-30-36-71
caroline.sasia-lallier@alliance-rnm.com

Original-Content von: Renault-Nissan-Mitsubishi, übermittelt durch news aktuell