Chinese autonomous driving startup Momenta seeks funding with an estimated valuation of around $6 billion.
Funding and Valuation: Momenta, a Chinese driverless technology startup, is raising funds that could value the company at approximately $6 billion, with a previous report indicating a valuation above $5 billion.
Partnerships with Automakers: The company has secured deals with Mercedes-Benz and BMW to integrate its Advanced Driver Assistance Systems (ADAS) technology into their electric vehicles in China, with plans for widespread deployment across multiple models.
Investor Backing: Momenta's investors include major firms like Tencent, Temasek, SAIC Motor, Toyota, and Mercedes-Benz, positioning it strongly in a competitive market against other autonomous driving software companies.
IPO Considerations: Momenta is preparing for an initial public offering and is contemplating shifting its listing from New York to Hong Kong.
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- First Commercial Robotaxi Service: WeRide and Uber have launched the first commercial robotaxi service in downtown Abu Dhabi, marking the Emirate's inaugural deployment of autonomous vehicles in its central area, thereby enhancing the modernization of urban transportation.
- Expanded Service Coverage: The service now operates in approximately 70% of Abu Dhabi's main areas, including Khalifa City, Masdar City, and Rabdan, significantly improving travel convenience for residents and tourists alike.
- Fleet Size Growth: Since operations began in December 2024, the WeRide-Uber robotaxi fleet has quadrupled in size, indicating strong market demand and laying the groundwork for future expansion.
- Technological Collaboration and Innovation: The partnership with the Integrated Transport Centre not only showcases WeRide and Uber's technological prowess in autonomous driving but also introduces a new business model for smart transportation solutions in the Middle East.
- Partnership to Enhance Experience: Uber's collaboration with Mazda aims to improve customer interactions at U.S. dealerships, potentially increasing efficiency and satisfaction, thereby enhancing Uber's competitiveness in non-traditional ride-hailing services.
- Technology Integration Strategy: By applying its technology platform to the automotive sector, Uber not only demonstrates its commitment to diversifying services but may also attract more users and partners, driving long-term growth.
- Launch of Robotaxi Service: Uber has launched its first robotaxi service in Abu Dhabi, allowing users to match with WeRide GXR robotaxis via UberX or Uber Comfort, further expanding its service offerings.
- Market Trend Analysis: Despite Uber's stock declining by 11.51% amid a broader market downturn, analysts remain optimistic about its future financial performance, forecasting an EPS of 72 cents and revenue growth to $13.3 billion by 2026.
- Fleet Expansion Plan: WeRide aims to expand its global fleet to 2,000-3,000 vehicles by year-end, doubling from over 1,000 units in January, reflecting the company's ambition and strong market demand in the autonomous driving sector.
- AI Technology Utilization: The company has successfully reduced data collection and training costs by 75% through its in-house developed AI testing platform, which not only enhances operational efficiency but also paves the way for profitability.
- Simulator Enhances R&D: WeRide's AI simulator, Genesis, trains autonomous vehicles to handle complex real-world scenarios such as heavy traffic and extreme weather, ensuring safe responses in rare situations and further enhancing safety.
- R&D Spending Plans: Despite AI-driven cost savings, WeRide expects a slight increase in R&D spending in 2026 to support fleet expansion and technological advancements, indicating the company's commitment to long-term growth.
- First Robotaxi Service: WeRide and Uber have launched Abu Dhabi's first commercial robotaxi service in the city center, covering key landmarks including the Sheikh Zayed Grand Mosque, marking a significant milestone for the deployment of autonomous vehicles in the emirate.
- Expanded Service Coverage: This expansion now covers about 70% of Abu Dhabi's core areas, with the fleet growing fourfold since operations began in December 2024, significantly enhancing urban connectivity and supporting the UAE's smart mobility goals.
- Accelerated Strategic Partnership: WeRide and Uber announced in February 2026 a plan to deploy at least 1,200 robotaxis, making it one of the largest commercial autonomous mobility rollouts in the region, with completion targeted by 2027.
- Positive Market Reaction: WeRide shares rose 3.31% to $7.80 in premarket trading on Thursday, reflecting positive market sentiment towards its expansion plans in Abu Dhabi, while Uber shares also increased by 0.58% to $71.42.
- Service Expansion: WeRide and Uber have launched the first commercial Robotaxi service in downtown Abu Dhabi, covering approximately 70% of the core areas, significantly enhancing urban transport accessibility and convenience.
- Fleet Growth: Since starting operations in December 2024, WeRide's Robotaxi fleet has expanded to over 200 vehicles, with plans to scale to thousands in the coming years, further solidifying its leadership position in the Middle East market.
- Tourism Support: The new service connects major landmarks and hotels, expected to boost Abu Dhabi's tourism sector, with international visitors reaching 4.8 million in 2024, a 27% year-on-year increase.
- Technological Advantage: WeRide maintains a four-year first-mover advantage in Abu Dhabi, being the first to receive a national self-driving vehicle license, driving the realization of the smart mobility vision.
- Middle East Expansion: WeRide and Uber announced plans to deploy at least 1,200 Robotaxis across Abu Dhabi, Dubai, and Riyadh, with completion expected by 2027, marking the largest commercial commitment for Robotaxis in the MENA region and significantly enhancing both companies' competitive positions in this market.
- Strategic Partnership Deepening: This deployment allows WeRide and Uber to operate Robotaxis in three of the 15 cities outlined in their agreement, with plans to launch in another 12 cities by 2030, further solidifying their collaborative efforts in the smart mobility sector.
- Global Vision Advancement: WeRide's CEO Tony Han stated that this commitment is a key part of their vision for tens of thousands of Robotaxis globally, demonstrating the company's determination to accelerate its global expansion over the next five years.
- Innovation-Driven Growth: By partnering with Uber, WeRide not only enhances its technological capabilities but also drives innovation in smart transportation in the Middle East, which is expected to attract more investments and collaboration opportunities, fostering regional economic growth.










