Stock of WeRide Inc. (WRD) is rising about 12 percent on Tuesday morning trading after the company, along with Uber (UBER), announced the launch of fully driverless Robotaxi fare-charging operations in Dubai, as part of the first batch of Level 4 Robotaxis to enter commercial service in the city.
The company's shares are currently trading at $8.03 on the Nasdaq, up 12.78 percent. Over the past year, it has traded in a range of $6.01 to $14.26.
The driverless vehicles were launched along routes in Jumeirah and Umm Suqeim, two of Dubai's most popular coastal tourist districts, in partnership with the Roads and Transport Authority. Tawasul, a mobility and fleet operator in the UAE, will be the service operator for WeRide vehicles on the Uber platform, providing fleet management services.
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