Investment

WeRide received strategic investment from Bosch to jointly

GUANGZHOU, China and SHANGHAI, China, May 25, 2022 (GLOBE NEWSWIRE) — WeRide, a global leading Level 4 autonomous driving technology company, announced the strategic investment received from Bosch, one of the leading automotive suppliers. The two parties have signed a strategic cooperation agreement and will jointly develop autonomous driving (AD) software. This cooperation will accelerate the process of developing Bosch China’s advanced driving solution, moving SAE Level 2-3 AD towards mass production.

WeRide and Bosch enter into strategic partnership

Bosch and WeRide representatives at the strategic partnership signing ceremony: Executive Vice-President of Bosch China Dr. David Xu (left 2), WeRide Co-founder & CTO Dr. Yan Li (right 2), President of Bosch Cross-Domain Computing Solutions China Mr. Yin Li (left 1) and WeRide COO Mr. Li Zhang (right 1)

WeRide ONE is a set of universal software that provides a high level of flexibility to achieve autonomous driving capabilities from SAE Level 2 to 4. Based on WeRide ONE and the advanced driving solution from Bosch China, the two parties will jointly develop data-driven intelligent driving software to provide OEM customers in the Chinese market with faster and better service and deliver SAE Level 2-3 advanced intelligent driving experiences covering various scenarios such as urban, highway, and elevated roads in China earlier.

Developed by Bosch Cross-Domain Computing Solutions China, the advanced driving solution is an intelligent driving system solution tailored for the Chinese market which comprises key technical elements such as centralized computing platforms, sensors, software applications, and cloud services. It has been designed with a future-proof scalable architecture. The solution is fully equipped with system-level safety designs encompassing functional safety, cyber security, and safety of the intended functionality, and sets out rigorous requirements for both software and hardware development processes, as well as the verification and release of systems. Adhering to the long-term development strategy of “Local for Local,” Bosch China continues to invest and innovate locally in key technical areas of automotive electronics and software. Together with WeRide, Bosch is set to make every intelligent driving powered by Bosch China’s advanced driving solution safer and more trustworthy.

WeRide’s AD technology has been verified with over 11 million kilometers of rigorous AD test drive on open roads. WeRide’s innovative Level 4 (L4) autonomous driving fleets comprise Robotaxi, Mini Robobus, Robovan and Robo Street Sweeper. The four products are tested and operated day and night, traveling everywhere from central business districts (CBDs) to urban villages, from tunnels to highways, and in sunny, rainy, and snowy weather conditions. Through years of R&D and application of L4 AD technology, WeRide is now ready to develop and apply L2 and above AD technology in this new strategic cooperation. The highly flexible use of WeRide ONE, the universal software in WeRide’s AD solutions will enable the vehicles to achieve autonomous driving from L2 to L4.

“With the increased adoption of intelligent driving technologies in new vehicles, advanced driving solutions are shaping up to be the next blue ocean for the industry. Bosch has built deep know-how in engineering R&D and technical services in this field, along with its deep-rooted local presence and experience in volume production. WeRide brings to the table its innovative capabilities in autonomous driving technology R&D, product innovation, and operation services. The cooperation between the two parties is set to accelerate the volume production of advanced intelligent driving solutions, and deliver a safer, more comfortable, and smarter driving experience in China,” said Li Yin, the president of Bosch Cross-Domain Computing Solutions, China.

Tony Han, founder and CEO of WeRide, said: “WeRide is always devoted to developing safe, cutting-edge and commercially viable autonomous driving solutions with the aim of empowering upstream and downstream ecosystems of the industry. Backed by over a century of continuous innovation, Bosch is a global leader in automotive technologies with profound expertise, market insight, and invaluable customer relations. WeRide and Bosch are both well positioned in this joint effort to drive the development and adoption of advanced intelligent driving technologies in China while lead the world in creating the best intelligent driving products.”

Developing from L4 autonomous driving mobility to logistics and environmental services market, and evolving further into advanced driving solutions, WeRide will continue to advance towards mass production and commercialization of autonomous driving with strategic partners like Bosch in the future.

About Bosch
Mobility Solutions is the largest Bosch Group business sector. It generated sales of 45.3 billion euros in 2021, and thus contributed 58 percent of total sales from operations. This makes the Bosch Group one of the leading automotive suppliers. The Mobility Solutions business sector pursues a vision of mobility that is safe, sustainable, and exciting, and combines the group’s expertise in the domains of personalization, automation, electrification, and connectivity. For its customers, the outcome is integrated mobility solutions. The business sector’s main areas of activity are injection technology and powertrain peripherals for internal-combustion engines, diverse solutions for powertrain electrification, vehicle safety systems, driver-assistance and automated functions, technology for user-friendly infotainment as well as vehicle-to-vehicle and vehicle-to-infrastructure communication, repair-shop concepts, and technology and services for the automotive aftermarket. Bosch is synonymous with important automotive innovations, such as electronic engine management, the ESP anti-skid system, and common-rail diesel technology.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,600 associates worldwide (as of December 31, 2021). The company generated sales of 78.7 billion euros in 2021. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company’s future growth is its innovative strength. At 128 locations across the globe, Bosch employs some 76,100 associates in research and development, of which more than 38,000 are software engineers.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPress.

About WeRide
WeRide is a leading, commercial-stage global company that develops Level 4 autonomous driving technologies. WeRide aims to develop safe and reliable driverless solutions to make mobility and transportation safer, more affordable and accessible. WeRide is conducting autonomous driving R&D, tests and operations in over 15 cities around the world.

As the pioneer leader in autonomous technologies and services, WeRide has stepped up to the commercial stage in operations. WeRide offers an all-rounded product mix of Robotaxi, Mini Robobus, Robovan, Robo Street Sweeper and Advanced Driving Solution, providing smart services in online ride-hailing, on-demand transport, urban logistics, environmental services and advanced driving solution.

Established in 2017, WeRide is headquartered in Guangzhou, China, and has expanded its R&D and operation centers to Beijing, Shanghai, Shenzhen, Zhengzhou, Nanjing, Wuhan, and Anqing, as well as San Francisco in the US. WeRide has formed strategic partnerships with top-tier global OEMs and Tier 1 including Renault-Nissan-Mitsubishi Alliance, Yutong Group, GAC Group, Bosch, etc.

For more information, please visit:
Website: www.weride.ai; Medium: https://werideai.medium.com/; twitter/LinkedIn/YouTube: WeRide.ai.

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3472adb9-fc38-448f-b00f-ddc29ad1fbff


        




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