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China’s WeRide Aims to Raise $308 Million in Hong Kong Listing Amid Autonomous Driving Boom

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Chinese self-driving technology company WeRide plans to raise about $308 million through a Hong Kong stock market listing, according to a Bloomberg report on Tuesday. The Guangzhou-based firm is expected to price its shares at HK$27.10 each, valuing the offering at HK$2.39 billion.

WeRide, which went public on Nasdaq in October 2024, is selling 88.3 million shares, with a maximum price of HK$35 per share, according to its prospectus filed on October 27. The offering is led by Morgan Stanley and China International Capital Corp (CICC), which were also involved in the company’s U.S. listing.

The move comes as growing investor enthusiasm for next-generation mobility companies fuels renewed interest in autonomous driving technologies. At the same time, many U.S.-listed Chinese firms are pursuing dual or secondary listings in Hong Kong to diversify funding sources and hedge against geopolitical and regulatory risks linked to U.S.-China tensions.

Founded in 2017, WeRide develops autonomous vehicle systems and operates robotaxi services in China and abroad. The company’s Hong Kong debut follows rival Pony AI, which set the final price for its own Hong Kong listing at HK$139 per share this week.

WeRide declined to comment on its final offer price when contacted by Reuters.

Waymo Begins Manual Autonomous Vehicle Tests at Newark Airport

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Alphabet’s self-driving technology unit, Waymo, has started manual testing of its autonomous vehicles at Newark Liberty International Airport. This initiative marks a significant step toward introducing its robotaxi services to one of the busiest airports in the New York metropolitan area.

The testing, conducted with human drivers, is part of a collaboration between Waymo and the Port Authority of New York and New Jersey. The company aims to carefully evaluate airport traffic patterns, ensuring safe and efficient integration of self-driving vehicles into real-world environments.

Although Waymo’s expansion has been gradual due to strict regulations and costly technology, it continues to advance through partnerships with ride-hailing platforms and fleet operators. The company’s move coincides with Tesla’s upcoming rollout of its long-awaited robotaxi network in the U.S. Meanwhile, Waymo plans to launch its fully driverless ride-hailing service in London by 2026, expanding its global footprint.

Bolt CEO urges EU to prioritize self-driving tech to compete with U.S. and China

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Europe must invest far more aggressively in autonomous vehicle technology if it wants to remain competitive against the United States and China, according to Markus Villig, CEO of Estonian ride-hailing and food delivery company Bolt.

Speaking to journalists on Friday, Villig said the European Union’s heavy focus on electric vehicles (EVs) risks sidelining what he called the “core technology of the next decade” — self-driving systems.

“There’s so much attention on EVs, but we’ve lost the plot on autonomous driving,” Villig said, warning that the technology gap between Europe and its global rivals is widening fast.

U.S. firms like Alphabet’s Waymo and Tesla, as well as Chinese players such as Baidu, WeRide, and Pony.ai, are leading the autonomous driving race. Waymo is preparing to launch autonomous ride-hailing services in London next year, highlighting Europe’s reliance on foreign technologies.

Villig said that the EU should treat autonomous mobility as a strategic technology, not just an industrial one, with implications for security and digital sovereignty. While the bloc is spending tens of billions of euros on EV subsidies and supply chains, he argued that comparable funding for self-driving development is virtually absent.

He proposed that the EU support domestic startups through subsidies and exclusive operating licences for robotaxis in certain cities, to help local firms gain scale before foreign competitors dominate the market.

Villig was scheduled to meet EU technology chief Henna Virkkunen later on Friday to discuss Europe’s role in the next generation of transport innovation.