WeRide Inc. (NASDAQ: WRD), a global leader in autonomous driving technology, saw its shares surge 5.71% in pre-market trading on Monday. The significant uptick comes on the heels of a groundbreaking announcement that WeRide has secured Saudi Arabia's first Robotaxi autonomous driving permit, further solidifying its position in the global autonomous vehicle market.
This latest achievement marks WeRide as the world's only technology company with autonomous driving permits in six countries: Saudi Arabia, China, the UAE, Singapore, France, and the US. The Saudi Arabian permit allows WeRide to operate and deploy Robotaxis nationwide, starting with pilot operations in Riyadh in partnership with Uber and local partner Ai Driver. The company plans to launch a full-scale commercial Robotaxi service by the end of 2025, opening up new revenue streams and market opportunities.
Investors are clearly optimistic about WeRide's expansion into the Middle East market and its potential for growth. The company's ability to secure permits in multiple countries demonstrates its technological prowess and regulatory compliance, which are crucial factors in the highly competitive and rapidly evolving autonomous driving industry. As WeRide continues to expand its global footprint and advance its technology, the market appears to be rewarding the company's progress with increased investor confidence.
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