Since 2025 marked the first year of large-scale Robotaxi operations, the capital market's criteria for evaluating autonomous driving companies have shifted from a pure focus on "technological prowess" to tangible results in "commercial monetization."

As a leading player in China's Robotaxi sector, WeRide Inc. was among the first to present its report card. In 2025, the company generated revenue of 690 million yuan, a significant increase of 90% year-over-year. Revenue for the fourth quarter specifically reached 314 million yuan, up 123% compared to the same period last year. During the same quarter, the net loss was 1.66 billion yuan, narrowing by over 30% year-over-year.

The core driver behind this robust performance was the accelerated scaling of its Robotaxi business. In 2025, revenue from WeRide's Robotaxi-related products and services reached 148 million yuan, surging 209.6% year-on-year. By the end of 2025, the company's global fleet of Robotaxis had grown to 1,125 vehicles, a record high.

However, as the Robotaxi business model gains traction, the competitive landscape is becoming increasingly crowded. Previously, the main participants in China's Robotaxi scene were primarily three autonomous driving technology firms: RoboTaxi, Pony.ai, and WeRide Inc. But since 2025, major ride-hailing platforms like Didi, CaoCao Mobility, Hello, and Amap, as well as automakers such as XPeng, have entered the arena, raising market concerns about future competitive pressures on WeRide.

In response to these concerns, WeRide's management stated during an earnings call on the evening of March 23rd: "Operating autonomous taxi services from L2 to L4 levels requires obtaining safety operation qualifications and passing continuous capability verifications. This includes hardware maturity, system architecture, and regulatory approvals—hurdles that all competitors must overcome. In this regard, we have accumulated substantial experience and hold a significant advantage in L4 autonomous taxi operations. We welcome competitors to join this intensely competitive market."

According to its strategic plan, WeRide aims to expand its global Robotaxi fleet to 2,600 vehicles by the end of 2026, with a long-term ambition of deploying tens of thousands of vehicles globally before 2030. In this expansion, overseas markets have become a critical engine supporting WeRide's growth strategy.

Currently, WeRide is accelerating its global penetration through a deep partnership with Uber. Management indicated on the call that by 2027, the collaborative fleet size on their shared platform is expected to reach several thousand vehicles. The company's overseas Robotaxi operations are primarily advanced via this cooperation with Uber.

Regarding the closely watched Middle East market, management reported that various business initiatives are progressing steadily. "We have obtained a city-level license in Abu Dhabi and will commence operations in Dubai this year. Securing permits in these two key Middle Eastern cities provides an excellent starting point," WeRide noted. "From a regulatory perspective, a strong safety record and good relationships with partners will also facilitate faster expansion. We are currently focused on business development and expansion, working closely with local and international teams to continuously grow our fleet. Presently, no material shortages are impacting our business progress, and the situation remains under our control."

Rapid revenue growth and a substantial narrowing of losses have provided WeRide with more resources to navigate the capital-intensive, long-cycle autonomous driving industry. Nevertheless, it is undeniable that with the entry of major mobility giants and new automakers, competition in the domestic market is intensifying further. The true commercial ranking contest in the second half of the autonomous driving era has only just begun.