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    000550   CNE000000CV8

JIANGLING MOTORS CORPORATION, LTD.

(000550)
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Nissan-backed Chinese startup WeRide develops self-driving vans

09/09/2021 | 02:40am EST
People walk past a WeRide autonomous driving robobus near its office in Guangzhou

BEIJING (Reuters) - WeRide, a China-based autonomous driving startup, said on Thursday that it would start developing self-driving vans for urban logistics service, with automaker JMC and delivery firm ZTO Express.

The Guangzhou-based startup, led by founder Tony Han, is pursuing what is known in the auto industry as a level 4 autonomous standard, in which the vehicle can handle all aspects of driving in most circumstances with no human intervention.

WeRide is currently testing autonomous passenger cars and mini-buses.

Backed by Nissan Motor, WeRide said in a statement that it would jointly develop self-driving vans with JMC, in which Ford Motor has a stake, and ZTO. A pilot test will take place near the airport in Guangzhou city.

Automakers and technology firms are investing billions of dollars in autonomous driving, aiming to take an early lead in what many consider the future of mobility.

(Reporting by Yilei Sun and Brenda Goh; Editing by Ana Nicolaci da Costa)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
JIANGLING MOTORS CORPORATION, LTD. -2.52% 16.99 End-of-day quote.-17.68%
JMC CORPORATION 1.79% 511 End-of-day quote.-33.20%
NISSAN MOTOR CO., LTD. 4.06% 564.5 End-of-day quote.0.80%
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Financials
Sales 2020 31 400 M 4 925 M 4 925 M
Net income 2020 481 M 75,4 M 75,4 M
Net cash 2020 8 314 M 1 304 M 1 304 M
P/E ratio 2020 30,5x
Yield 2020 1,54%
Capitalization 11 031 M 1 730 M 1 730 M
EV / Sales 2020 0,09x
EV / Sales 2021 0,05x
Nbr of Employees 14 788
Free-Float 25,0%
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Number of Analysts 3
Last Close Price 16,99 CNY
Average target price 16,37 CNY
Spread / Average Target -3,67%
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Managers and Directors
Wong Manto President & Director
Wei Hua Li Chief Financial Officer
Tian Gao Qiu Chairman
Hu Xiao Chairman-Supervisory Board
Xian Jun Li Independent Director
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