Jun. 4 at 5:54 PM
$WRD One of the most misunderstood differences between WeRide and
$PONY:
WeRide has limited upfront product revenue when deploying Robotaxis in China, while service revenue gradually increases over subsequent quarters. In other words, once a robotaxi enters service, WeRide’s economic value increasingly appears in Service Revenue. WeRide is more vertically integrated in China.
For Pony, this is the exact opposite. It has significant upfront product revenue- and runs an asset light model globally.
For WeRide this is only the case in overseas deployments, and bump up product revenue.
This asset heavy model is actually one reason why WeRide’s Product Revenue can be lumpy (as we’ve seen in Q1). A large overseas fleet delivery may create a Product Revenue spike, while a large China deployment may barely affect Product Revenue and instead show up gradually in Service Revenue.
