* WeRide ( WRD ) CEO Tony Han says company in talks with Australian
regulators
* Autonomous driving firm says overseas revenue jumped 164%
from a year earlier in Q2
* Han says keeping fundraising possibility open if terms are
'good'
BEIJING, Aug 13 (Reuters) - Chinese autonomous driving firm
WeRide ( WRD ) is considering Australia, South Korea, Japan, and
Southeast Asia as potential new markets for expansion, its chief
executive said on Thursday.
The expansion push comes as leading Chinese robotaxi firms
race to establish overseas footholds, seeking new growth markets
and diversified revenue streams as autonomous driving technology
moves closer to commercial deployment globally.
"In Australia, we are talking with the regulatory
authorities about the possibility," WeRide ( WRD ) CEO Tony Han told
Reuters.
Other potential markets include Southeast Asia, South Korea and
Japan, he said, adding that the company was also in talks with
European countries.
The Guangzhou-based firm entered Denmark earlier in August,
extending its European footprint to a sixth country. WeRide's ( WRD )
autonomous vehicles now span more than 60 cities across 13
countries.
Commercial deployments of its right-hand-drive robotaxi
service are also set to begin in Singapore and Hong Kong.
"We want to hire locally and we want to work closely with
the local government officials and the authorities and try to
use as many local collaborators as possible," Han said.
Overseas expansion has become an increasingly important
growth driver for WeRide ( WRD ). The company's second-quarter overseas
revenue grew 164% from a year earlier, outpacing an 82% increase
in total quarterly revenue, according to its disclosure on
Wednesday.
The company's EBITDA loss narrowed 8.1% year-on-year in the
second quarter. It targets achieving positive cash flow in a
single quarter by 2028, with a full-year break-even anticipated
in 2029.
"Currently we don't have a very immediate need for capital
raising," Han said, adding that the company would keep the
possibility open if terms were "good."
WeRide's ( WRD ) global robotaxi fleet exceeded 1,800 vehicles as of
the end of July, part of a level 4 autonomous fleet of about
3,400 vehicles that also includes robobuses and robosweepers.
Han said the company was confident of reaching its target of
deploying 5,000 vehicles of high automation level 4 by the end
of this year, including 2,600 robotaxis.
Beyond its jointly developed purpose-built robotaxi with
Geely Farizon, WeRide ( WRD ) is also co-developing another robotaxi
model with GAC that is expected to deliver further
hardware cost reductions, he said.
The company's longer-term goal is to deploy robotaxis in the
tens of thousands by 2030 before expanding to 1 million vehicles
by 2035.
Robotaxis aside, Han said WeRide ( WRD ) was seeing strong demand
from both Chinese and international automakers for its advanced
driver-assistance systems, which he expects to become "a very
profitable business" for the company.