Stock Track | WeRide Inc. Soars 9.85% Intraday on Dubai Robotaxi Launch with Uber, Stake Disclosure, and Buyback

Stock Track03-31

WeRide Inc.'s stock soared 9.85% during intraday trading on Tuesday, driven by a series of positive corporate developments.

The autonomous driving technology company, in partnership with Uber Technologies, officially launched the first fully driverless Robotaxi commercial service in Dubai. This marks Dubai's inaugural publicly operated fleet of its kind and supports the city's goal of 25% automated transportation by 2030. Passengers can now book rides via the Uber app in designated areas, with operations endorsed by the Dubai Roads and Transport Authority.

Concurrently, Uber disclosed it holds approximately 5.82% of WeRide's Class A ordinary shares, a significant investment reflecting confidence in WeRide's technology and global strategy. Additionally, WeRide announced a share buyback program worth HKD 188.7 million, signaling management's belief in the company's intrinsic value.

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