Mentioned:
Uber has big plans for autonomous vehicles. And they’re partnering up with WeRide to bring their vision to the United Arab Emirates.
What’s happening:
- WeRide (NASDAQ: WRD) has announced they are getting ready to launch their robotaxis on the Uber (NASDAQ: UBER) ridesharing app in the United Arab Emirates
Why it matters:
- WeRide just recently became the first ever company focused exclusively on autonomous vehicles to IPO on a major stock exchange in the United States of America
Going deeper:
- Uber was a significant investor in WeRide’s IPO and plans to use the initial rollout of WeRide’s robotaxis in the United Arab Emirates as a pilot project prior to launching in other locations
- Uber has been exceptionally aggressive in placing bets on autonomous driving companies, including investments in commercial trucking startups and a notable partnership with Silicon Valley backed Cruise
The intrigue:
- Tesla (NASDAQ: TSLA) has also been making moves to become the dominant player in autonomous vehicle technology, recently unveiling two new prototypes for fully self driving vehicles
