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NISSAN MOTOR CO LTD

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Delayed Japan Exchange  -  05/20 01:19:44 am EDT
492.80 JPY   +2.03%
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China's WeRide receives strategic investment from GAC Group for robotaxis

12/14/2021 | 06:48am EDT
People walk past a WeRide autonomous driving robobus near its office in Guangzhou

SHANGHAI (Reuters) - WeRide, a China-based autonomous driving startup, said on Tuesday that it had received a strategic investment from Guangzhou Automobile Group which will deepen their partnership that is focused on developing and making robotaxis.

It did not disclose the size of the investment. The two plan to build a fleet of tens of thousands of robotaxis in the coming years, WeRide said in a statement.

WeRide is also backed by Nissan Motor. Last month, WeRide said it planned to make its robotaxis available for booking by the public on GAC Group's Ontime ride-hailing app by next year.

(This story has been refiled to fix spelling of robotaxis in first paragraph)

(Reporting by Brenda Goh, Editing by Louise Heavens)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GUANGZHOU AUTOMOBILE GROUP CO., LTD. -0.72% 6.89 Delayed Quote.-9.23%
NISSAN MOTOR CO LTD 2.03% 492.8 Delayed Quote.-9.59%
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Financials
Sales 2022 8 673 B 68 102 M 68 102 M
Net income 2022 221 B 1 739 M 1 739 M
Net Debt 2022 5 298 B 41 599 M 41 599 M
P/E ratio 2022 8,56x
Yield 2022 0,71%
Capitalization 1 891 B 14 846 M 14 846 M
EV / Sales 2022 0,83x
EV / Sales 2023 0,74x
Nbr of Employees 131 461
Free-Float 45,7%
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Number of Analysts 18
Last Close Price 483,00 JPY
Average target price 685,88 JPY
Spread / Average Target 42,0%
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Managers and Directors
Makoto Uchida Executive President & Chief Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Yasushi Kimura Chairman
Anthony Thomas Chief Information Officer
Ashwani Gupta COO & Representative Executive Officer
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