WeRide Robotaxi Business

WeRide Robotaxi still has a high takeover rate in urban areas. Companies such as Baidu choose to conduct large-scale testing in certain cities to collect data and continuously improve, but this requires a lot of financial support, and other companies may not be able to afford such a huge loss-making operation. The cost of a self-driving vehicle is about 200,000 yuan per vehicle, and 20 orders need to be completed every day to barely break even. This does not include the cost of high-precision maps. If it is purchased from outside, it costs about 5,000 to 6,000 yuan per vehicle per year; if it is collected by itself, the cost is lower. The cost can be diluted by increasing the number of vehicles. A single city requires at least 500 vehicles to achieve such a cost level. In general, the cost of high-precision maps does not account for a high proportion. GAC has the deepest cooperation with us. GAC's cooperation with Didi is mainly to use Didi's travel platform rather than purchasing its self-driving technology. GAC's cooperation with other companies such as Pony.ai is more of a balancing strategy. GAC also has its own Robotaxi project, but currently the cooperation with WeRide is the deepest because we are the only company in which GAC has a stake and is also the main party in our C round of financing.