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Bus maker leads $310m funding for China self-drive startup WeRide

CMC and state-backed investment groups join round as new road tests start

WeRide will begin testing its autonomous buses this week on an island in Guangzhou, its headquarters city. (Photo courtesy WeRide)

HONG KONG -- Chinese autonomous vehicle startup WeRide has raised $310 million from bus maker Zhengzhou Yutong Group and several state-backed investors as Beijing rolls out new guidelines for testing self-driving cars.

WeRide, backed by the alliance of Groupe Renault, Nissan Motor and Mitsubishi Motors, is among the front-runners in China's rapidly growing autonomous vehicle sector. The fresh investment announced Thursday will allow the 3-year-old startup to accelerate research and commercialization of autonomous technologies.

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