WeRide-W (00800) Rises Over 3% in Morning Session After Securing Abu Dhabi's Autonomous Driving License

Stock News11-20

WeRide-W (00800) surged over 3% in morning trading, reaching HK$19.21 with a turnover of HK$11.08 million. The rally follows Abu Dhabi's Integrated Transport Centre (ITC) granting the first two commercial operation licenses for L4 fully autonomous vehicles.

The initiative marks a key step in Abu Dhabi's smart mobility vision. Phase one features two major projects: 1) A collaboration between WeRide, Uber, and UAE-based fleet operator Tawasul 2) A partnership between UAE's AutoGo (under K2) and Baidu's autonomous ride-hailing platform Apollo Go.

According to Everbright Securities, WeRide's Robotaxi revenue grew 836.7% YoY to RMB50 million in FY25Q2. Since December 2024, Abu Dhabi's Robotaxi fleet has tripled in size, with the Middle East market expected to drive near-term revenue growth.

As the only company holding autonomous driving licenses across seven countries, WeRide operates in 30 cities globally. Its Middle East expansion - focusing on high-value markets like Abu Dhabi, Dubai and Riyadh - significantly enhances profitability potential.

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