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WeRide eyes new robotaxi markets as overseas revenue surges
In the latest quarter, overseas revenue jumped 164% year over year and grew to nearly 40% of group revenue, even as the company posted a RMB401 million net loss.
WeRide (NASDAQ: WRD) is scouting Australia, South Korea, Japan, and Southeast Asia for its next robotaxi markets, according to coverage citing Reuters, one day after the company posted a quarter in which overseas revenue more than doubled.
During its August 12 earnings call, WeRide said international sales rose 164% year over year, outpacing 82% total revenue growth, lifting overseas revenue to nearly 40% of group revenue. The company’s international expansion is tied to an asset-light approach, licensing its technology to local partners rather than owning vehicles.
WeRide also described continued scaling of its technology business. It said its vehicles operate in more than 60 cities across 13 countries, with commercial robotaxi service set to begin in Singapore and Hong Kong, and it reported gross margin of 37.5% in the quarter.
Despite the overseas momentum, profitability remains a challenge. WeRide posted a net loss of RMB401 million in the second quarter, while R&D spending rose 36% year over year to RMB434 million, a dynamic the company linked to ongoing investment in AI foundation models.
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