The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Chinese transport company WeRide releases a fully automated electric delivery van called Robovan alongside its purchase of MoonX.AI technology
  • WeRide’s net worth sits at $3.3 billion and it is the only company with a driverless licence in both the US and China
  • WeRide investor Nissan has a carbon-neutral by 2050 goal
  • UBER and WeRide agree that electric vehicles within the ride share industry should be a priority when looking for greener alternatives to internal combustion engine (ICE) vehicles

Chinese transport company WeRide has released a fully automated electric delivery van called Robovan and announced its purchase of MoonX.AI technology.

MoonX.AI is a Chinese trucking startup company specialising in automated driving technology, with a fleet of more than 20 self-driving passenger vehicles and trucks.

CEO of WeRide Tony Han said the Robovan was highly versatile.

“It’s an autonomous driving vehicle. If you put a seat there it can serve as a robotaxi car. If you put a cabinet there it is really a logistics car,” Mr Han said.

WeRide’s net worth sits at $3.3 billion and it is the only company with a driverless licence in both the US and China.    

Many car manufacturers believe the future of the automobile industry is equally tied to electrification and automation.

Australian Electrics

One of WeRide’s strategic investors is Nissan. The carmaker has the goal of reaching total carbon neutrality by 2050 and delivering electric options for all new vehicles by 2030.

Speaking in a conference with The Electric Vehicle Council of Australia yesterday, the Managing Director of Nissan Oceana Adam Paterson addressed consumer concerns about electric vehicles (EVs) being constantly upgraded.

“I don’t think waiting for tomorrow is compromising what you’re buying today when it comes to EVs and ICE (Internal Combustion Engine),” Mr Paterson said.

In addition to Nissan’s presence, Uber Australia General Manager Dominic Tyler spoke about the importance of electric rideshare services in the overall reduction of vehicles on the road.

Mr Tyler said rideshares would not only help free up prime city space currently used for parking but would also ease congestion. Furthermore, they could lower the overall cost of owning an EV if the car was used in a rideshare or carshare service.

More From The Market Online

Well below US$5K/oz, gold’s surefire status as a safe haven has shifted

In the post-COVID-19 world, it’s almost definitely news to nobody reading this that gold prices have staged a fairly historic run.
The Market Online Video

From the Wire: Why did the RBA cut last year just to walk it all back 12 months later?

The Reserve Bank of Australia made the call to hike interest rates again in CY26, using its second board meeting to bring them
ASX concept

ASX 200 reacts to an RBA 25bps rate hike by… closing somewhat firmly in the green?

Colour me surprised – the ASX200 successfully priced something in for once, with today’s RBA rate hike not scaring the market down into
India Russia flag

Not just AUKUS indexes: USA’s war on Iran visible on India’s NIFTY; Russia’s MOEX

While the Australian market is busy watching Wall Street, gold, and oil prices – and the prices of relevant stocks exposed to those