Guangzhou, China — China’s unmanned vehicle startup WeRide has acquired its first acquisition, an autonomous driving company, with the aim of commercializing autonomous driving technology.
The Guangzhou-based company announced on Tuesday that it had purchased MoonX.AI for a private price.
Qingxiong Yang, Founder and CEO of MoonX.AI, will be Vice President of WeRide and Dean of the company’s laboratory. Over 50 engineers from MoonX.AI will be attending WeRide.
The acquisition of WeRide highlights the rapid push to commercialize autonomous driving technology in China amid intensifying competition. The company’s rivals include South China-based other start-ups like Pony.ai and AutoX, as well as tech giant Baidu.
Prior to MoonX.AI, Yang worked in the self-driving unit of the puzzled ride-hailing service Didi. WeRide wants to strengthen its team of experts with the acquisition.
“MoonX has a team of talented engineers with extensive experience in developing and commercializing autonomous driving technology,” WeRide CEO Tony Han told CNBC. “The acquisition of MoonX will allow us to build stronger teams and attract the best talent in the industry.”
WeRide will also expand its footsteps in China and open a new office in Shenzhen’s technology hub.
The acquisition and expansion are also behind the May funding round, where WeRide was worth $ 3.3 billion.
WeRide suggests new products in the future
WeRide focuses on creating self-driving systems that can be sold to automakers.
The company launched the robotaxi service in Guangzhou in 2019 and opened it to the general public last year. The company is also testing autonomous buses.
WeRide states that it has recorded 5.5 million kilometers of self-driving license test miles using robot axes and robot buses.
MoonX is an autonomous trucking company, but WeRide hasn’t seen if it will start expanding into the industry.
But Han said the company “is actively involved with partners in various industries to expand its range of services.”
He also hinted at the new product.
“MoonX’s expertise helps WeRide create another AD (self-driving) product that will change the game,” Han said.
When asked for details, WeRide refused to comment further.
Source: texasnewstoday.com