WeRide (NASDAQ:WRD) stock gained on Thursday as it launched its Robotaxi GXR and Robobus pilot services in partnership with the Ras Al Khaimah Transport Authority (RAKTA), marking its first deployment in the emirate and expansion into its third UAE market.
The pilot integrates WeRide’s autonomous vehicles into Ras Al Khaimah’s public transport system. WeRide became the sole partner in the emirate’s smart mobility strategy and the first AV operator with active services there.
His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah and UAE Supreme Council Member, became the first passenger to ride the Robobus on public roads, joined by Chinese Ambassador Zhang Yiming and RAKTA Director General H.E. Eng. Esmaeel Hasan Alblooshi.
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WeRide’s Robobus will initially run across nine stops on Al Marjan Island, a fast-growing tourism hub, while the Robotaxi GXR will serve the city center.
Commercial operations are expected to commence in early 2026 under RAKTA’s Comprehensive Mobility Plan 2030, which aims to establish a regulatory framework for autonomous mobility and integrate sustainable transportation across the emirate.
WeRide also signed a Memorandum of Understanding with RAKTA to provide advanced technology, operational support, and training for the safe deployment of autonomous vehicles.
Despite this international expansion, WeRide’s stock performance has lagged its peers, having tanked over 27% year-to-date in sharp contrast to rival Pony AI’s (NASDAQ:PONY) over 60% returns.
The stock further dipped last Friday following news that Beijing will require Chinese exporters of pure electric passenger vehicles to secure licenses beginning January 1, 2026, according to a joint statement from four government agencies, including the Ministry of Commerce.
This new policy tightens oversight of EV exports even as WeRide aggressively pursues global growth, evidenced by its recent securing of a Dubai permit for Robotaxi trials, a nearly $1 million win at the Dubai World Challenge for Self-Driving Transport, and ambitious plans to scale its regional fleet from 50 Robotaxis to 1,000 by 2030, with fully driverless operations targeted for 2026.
Price Action: WRD shares were trading higher by 2.71% to $10.60 premarket at last check Thursday.
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