Turnaround in GoTo's fintech arm driven by lending, says CFO
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Yahoo
a day ago
- Yahoo
WeRide Lands Grab Investment To Speed Robotaxi Rollout In Southeast Asia
WeRide (NASDAQ:WRD) stock gained on Friday after it announced that Grab (NASDAQ:GRAB) will take a strategic equity stake as part of a deeper partnership to speed up the deployment and commercialization of Level 4 Robotaxis and shuttles across Southeast Asia. The deal, expected to close by mid-2026, supports WeRide's plan to expand its autonomous vehicle fleet and advance AI-driven mobility in the region. Under the agreement, WeRide will integrate its autonomous driving technology into Grab's fleet management, vehicle matching, and routing systems to boost service quality, safety, and operational companies will also train and upskill driver-partners and local communities for high-value careers in the AV industry. The partnership outlines a scalable framework for optimizing dispatch and routing, maximizing vehicle uptime, ensuring safety through local traffic training, enabling remote monitoring, and providing rapid customer support. It builds on their March 2025 MoU to explore AV feasibility, market potential, and job creation, combining WeRide's technical expertise with Grab's regional scale to roll out thousands of Robotaxis in line with local regulations and market readiness. WeRide stock plunged 32% year-to-date, weighed down by at least three consecutive quarters of losses. Meanwhile, WeRide expanded its Robotaxi service with Uber Technologies (NYSE:UBER) in Abu Dhabi, adding Al Reem and Al Maryah Islands to its network in partnership with the Integrated Transport Centre. The rollout now covers half of the city's urban core and is expected to double ride volumes. Since December 2024, WeRide has tripled its Abu Dhabi fleet and plans to scale to hundreds of vehicles this year, extending into Khalifa City, Masdar City, and more downtown districts. The fleet uses WeRide's mass-produced GXR autonomous vehicles, designed for commercial use, with each completing dozens of trips daily. Price Actions: WRD shares are trading higher by 3.21% to $9.96 premarket at last check Friday. GRAB is down 0.19%. Photo by Tada Images via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? WERIDE (WRD): Free Stock Analysis Report This article WeRide Lands Grab Investment To Speed Robotaxi Rollout In Southeast Asia originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
a day ago
- Forbes
Grab Partners With WeRide To Rollout Robotaxis Across Southeast Asia
Ride-hailing and delivery giant Grab Holdings is teaming up with WeRide to accelerate the deployment and commercialization of autonomous vehicles across Southeast Asia. Under the deal, Singapore-based Grab said it will make a strategic investment to support WeRide's commercial autonomous vehicle fleet in Southeast Asia and push AI-driven mobility. The transaction is set to be completed in the first half of 2026, it added, without disclosing financial details. 'We want everyone in Southeast Asia to have access to reliable transportation whenever they need it,' Grab Group CEO and co-founder Anthony Tan said in a joint statement on Friday. 'However, manpower constraints remain a challenge. We believe autonomous vehicles can complement our driver network and be deployed in cities with significant driver shortages.' The expanded partnership follows a preliminary agreement signed by both Nasdaq-listed companies in March this year to explore the technical feasibility and commercial viability of autonomous vehicles in Southeast Asia. Grab's investment will accelerate the deployment and commercialization of WeRide's level 4 autonomous vehicles (which are designed to operate in specific geographies and weather conditions without human intervention) in Southeast Asia, Guangzhou, China-based WeRide said in the statement. 'WeRide's vision for Southeast Asia is to deploy thousands of Robotaxis across the region,' Tony Han, founder and CEO of WeRide, said. 'Grab, our newest partner and investor, is a household name in Southeast Asia with unmatched regional expertise and scale in ride-hailing and digital services.' WeRide has permits to operate autonomous vehicles across China, France, Saudi Arabia, Singapore, United Arab Emirates and the U.S. It posted a net loss of 406.4 million yuan ($57 million) in the second quarter, slightly narrower than a year ago, as revenue jumped 61% to 127.2 million yuan. Grab swung to a $35-million net profit in the second quarter, compared with a $53 million net loss a year ago as sales climbed 23% to $819 million on the back of sustained demand for ride-hailing and delivery services in Southeast Asia. It added about two million monthly active users during the quarter, bringing its total to 46 million.
Yahoo
2 days ago
- Yahoo
GoTo Group's Ho on Growth Outlook, Earnings
Simon Ho, CFO of GoTo Group, discusses the company's latest earnings that saw a fourth consecutive quarter of adjusted profit. He says that the ride-hailing, delivery and fintech firm is focusing on organic growth in the Indonesia market and that positive net income is 'not too far away'. He speaks exclusively with Paul Allen and Avril Hong on "Bloomberg: The Asia Trade". Sign in to access your portfolio
