WeRide Shares Rise Following MoU with Uber and Dubai’s RTA

Dubai’s Roads and Transport Authority (RTA) announced yesterday that it has signed a Memorandum of Understanding (MoU) with Uber Technologies (UBER) and WeRide (WRD). This agreement will initiate pilot operations of autonomous vehicles later this year, utilizing the Uber app in Dubai.

WeRide Shares Rise Following MoU with Uber and Dubai's RTA
Credit: Seeking Alpha

During the initial phase, these autonomous vehicles will operate with a safety driver present to ensure passenger safety. The plan is to pave the way for a full-scale commercial rollout of driverless services by 2026. Field preparations for this pilot phase are already in progress, spearheaded by Uber and WeRide, with strategic support and supervision from the RTA.

Following the announcement, WeRide’s shares increased by 21 cents, or 3%, reaching a price of $8.06 during Monday morning trading. This partnership marks a significant step forward in the development of autonomous vehicle services in Dubai.

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