Latest news with #Robobus
Leaders
3 days ago
- Automotive
- Leaders
China's WeRide Launches Driverless Taxi Operations in Saudi Arabia
Chinese autonomous driving company WeRide has officially announced its plans to launch self-driving taxis in Saudi Arabia by year-end. The company is currently testing its flagship product, the Robotaxi, in Riyadh and the luxurious holiday resort of AlUla. Additionally, WeRide is evaluating other core autonomous driving products, as stated in a recent press release. We're officially in Saudi Arabia! 🇸🇦 @WeRide is rolling out our #Robotaxi, #Robobus and #Robosweeper across #Riyadh, #AlUla and more — driving forward the Kingdom's #Vision2030 goals for smart, sustainable mobility. Here's what to expect: 🚖 Robotaxi trial operations in Riyadh… — (@WeRide_ai) May 27, 2025 Collaboration with Local Partners Founded in California's Silicon Valley, WeRide operates on the Nasdaq but maintains its headquarters in Guangzhou, China. In Saudi Arabia, the company collaborates with Uber and the Transport General Authority to facilitate its operations. Furthermore, Saudi company AI Driver will serve as WeRide's representative agent in the kingdom. While Uber prepares to introduce driverless cars in Riyadh within the next few months, WeRide is also conducting road tests for its Robobus. Testing locations include King Fahad Medical City, Saudi Aramco residential communities, AlUla, and the Ritz-Carlton in Riyadh. Moreover, WeRide's Robosweeper, an autonomous sanitation vehicle, is undergoing trials in King Fahad Medical City. Understanding Autonomous Vehicle Levels There are six classifications of autonomous vehicles (AVs), ranging from level zero, which indicates no automation, to level five, representing full driving automation. Notably, the Robosweeper is classified as the first level-four sanitation vehicle, showcasing significant advancements in autonomous technology. Earlier this month, Uber CEO Dara Khosrowshahi announced that driverless cars would debut in Saudi Arabia this year. Speaking at the US-Saudi Investment Conference in Riyadh on 13 May, Khosrowshahi emphasized that Saudi Arabia ranks among Uber's top growing markets. He highlighted that the company currently serves 4 million drivers across the kingdom, indicating strong demand for innovative transportation solutions. Short link : Post Views: 37
Yahoo
4 days ago
- Business
- Yahoo
WeRide to Expand Autonomous Mobility in Saudi Arabia
On May 27, WeRide Inc. (NASDAQ:WRD) announced its entry into Saudi Arabia, a significant milestone in its global expansion strategy. The company is testing and deploying Robotaxis and other autonomous solutions in Riyadh and AlUla, paving the way for wider operations and a commercial rollout. WeRide is preparing for Robotaxi trial operations on Uber with support from the Transport General Authority. The service will launch in the coming months and full commercial operations are expected by late 2025. The deployment aligns with Saudi Arabia's Vision 2030, driving smart city development, road safety enhancements, and advanced mobility solutions. Beyond Robotaxis, WeRide has deployed Robobus at King Fahad Medical City, Aramco residential communities, and AlUla, enhancing last-mile connectivity. Additionally, the Robosweeper S1 has been introduced at King Fahad Medical City, marking Saudi Arabia's first monetized autonomous sanitation project. Building on its Middle Eastern expansion, WeRide has launched fully driverless Robotaxi testing in Abu Dhabi and plans to extend services to 15 global cities through its Uber partnership, further cementing its leadership in autonomous mobility solutions. Saudi Arabia, the Middle East's largest economy ($1.09T GDP in 2024), is advancing Vision 2030 to diversify growth. With tourism projected at $110.1 billion by 2033, WeRide's Robotaxis and Robobuses enhance smart, sustainable transport for residents and visitors. WeRide is a pioneer in autonomous driving and the first publicly traded Robotaxi company, operating in 30+ cities across 10 countries. It holds autonomous driving permits in China, the UAE, Singapore, France, and the US. Powered by its adaptable WeRide One platform, the company delivers L2–L4 autonomous solutions across mobility, logistics, and sanitation, earning a spot on Fortune's 2024 'The Future 50' list. While we acknowledge the potential of WeRide Inc. (NASDAQ:WRD) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WRD and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. Sign in to access your portfolio
Yahoo
24-05-2025
- Automotive
- Yahoo
Morgan Stanley Maintains Overweight on WeRide (WRD) Stock, Cuts PT
On May 22, Morgan Stanley cut the price target on WeRide Inc. (NASDAQ:WRD) stock from $23 to $13 but kept its Overweight rating on the shares. Tim Hsiao from Morgan Stanley has lowered WeRide's price target as he sees high volatility in the Chinese robotaxi market. The company posted only a 1.8% revenue increase in Q1 2025, indicating slower growth overall. WeRide faces rising competition in the autonomous driving market, especially from aggressive OEMs entering the Robotaxi business. WeRide Inc. (NASDAQ:WRD) is focusing on the longer run with its global expansion. The company has collaborated with Uber, securing an additional $100 million in equity investment and agreeing to provide global taxi services in 15 new cities. The company expanded its services in the UAE, with the first driverless Robotaxi testing in Abu Dhabi. WeRide now has an autonomous mobility service in three cities in China after launching its service in the central area of Guangzhou. The company is also entering European countries, including Switzerland, Spain, and France. However, Hsiao has cut its 2025-2026 volume forecasts for WeRide's Robobus and Robosweeper businesses. The analyst believes the WRD's 'severe share price movements' over the past three months reflect the volatility in China's robotaxi market. Despite this projection, the analyst remains constructive on WeRide's long-term outlook and collaboration with Uber overseas. WeRide Inc. (NASDAQ:WRD) offers autonomous driving products and services for different markets, addressing transportation needs across a range of use cases on open roads, including in the mobility, logistics, and sanitation industries. Its leading products and services include Robotaxi, Robobus, Robovan, and Robosweepers. While we acknowledge the potential of WRD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WRD and that has 100x upside potential, check out our report about this cheapest AI stock. Read Next: and . Disclosure. None. 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
Yahoo
24-05-2025
- Automotive
- Yahoo
Morgan Stanley Maintains Overweight on WeRide (WRD) Stock, Cuts PT
On May 22, Morgan Stanley cut the price target on WeRide Inc. (NASDAQ:WRD) stock from $23 to $13 but kept its Overweight rating on the shares. Tim Hsiao from Morgan Stanley has lowered WeRide's price target as he sees high volatility in the Chinese robotaxi market. The company posted only a 1.8% revenue increase in Q1 2025, indicating slower growth overall. WeRide faces rising competition in the autonomous driving market, especially from aggressive OEMs entering the Robotaxi business. WeRide Inc. (NASDAQ:WRD) is focusing on the longer run with its global expansion. The company has collaborated with Uber, securing an additional $100 million in equity investment and agreeing to provide global taxi services in 15 new cities. The company expanded its services in the UAE, with the first driverless Robotaxi testing in Abu Dhabi. WeRide now has an autonomous mobility service in three cities in China after launching its service in the central area of Guangzhou. The company is also entering European countries, including Switzerland, Spain, and France. However, Hsiao has cut its 2025-2026 volume forecasts for WeRide's Robobus and Robosweeper businesses. The analyst believes the WRD's 'severe share price movements' over the past three months reflect the volatility in China's robotaxi market. Despite this projection, the analyst remains constructive on WeRide's long-term outlook and collaboration with Uber overseas. WeRide Inc. (NASDAQ:WRD) offers autonomous driving products and services for different markets, addressing transportation needs across a range of use cases on open roads, including in the mobility, logistics, and sanitation industries. Its leading products and services include Robotaxi, Robobus, Robovan, and Robosweepers. While we acknowledge the potential of WRD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WRD and that has 100x upside potential, check out our report about this cheapest AI stock. Read Next: and . Disclosure. None. Sign in to access your portfolio
The Star
21-05-2025
- Automotive
- The Star
China's robobuses and robotaxis are coming to Europe
WeRide's Robobus travels at speeds of up to 40kph in complete autonomy. — WeRide You may already have come across or used autonomous vehicles in Europe, which mainly serve as small closed-circuit shuttles for the time being. As legislation adapts to these new technologies, China's WeRide and Baidu are stepping up their efforts to gain a foothold in the market, starting with pilot projects and strategic partnerships in France and Switzerland. Currently in France, these vehicles largely serve as small autonomous electric shuttles, whether to facilitate access to train stations or universities, or to enable isolated individuals to access public services. These driverless vehicles have become increasingly widespread in France since legislation authorized them to operate within a very specific framework. And this is now encouraging major international players to test their solutions in the country. Such is the case of China's WeRide, which is currently testing 100% autonomous buses around the high-speed train (TGV) station in the southeastern city of Valence, in partnership with the Renault group, the Beti operator and the Macif insurance company. This is a Level 4 autonomous shuttle. At this stage, the vehicle is capable of handling all driving tasks without human intervention, but only under specific, predefined conditions, in this case on an open road between Valence station and the Rovaltain business park. At the same time, the Chinese manufacturer is carrying out further public trials of its Robobus in Spain and Switzerland, to demonstrate the adaptability and reliability of its technology in dense urban environments. According to the Wall Street Journal, China's Baidu is also gearing up to take to Europe's roads, and will soon be rolling out its Apollo Go robotaxi service in Switzerland. The company plans to begin testing its service by the end of the year. All these initiatives are taking place against a backdrop of increasing competition between Chinese and Western companies in the field of autonomous vehicles. Europe represents a key market for Chinese players, with significant growth prospects. However, the success of these projects will depend on a number of factors, including public acceptance, collaboration with local authorities and compliance with current regulations. On this point, Switzerland has taken a major step forward by recently authorizing automated driving in three specific cases: automated piloting on freeways; the absence of a driver permitted on defined stretches of road but under the supervision of a remote operator; and automated parking in specifically marked parking lots. – AFP Relaxnews
