WeRide Is Buying Back Their Own Stock

One of the most exciting companies in self driving vehicles is now buying back their own stock.

What’s happening:

• WeRide (NASDAQ: WRD) has announced they will buy back $100M USD of their common shares
  

Why it matters:‍

• WeRide has quickly emerged as one of the most important publicly traded companies in autonomous vehicles, with Nvidia (NASDAQ: NVDA) previously taking an equity stake in the company
  

Going deeper:‍

• WeRide has publicly stated they will pursue buying back their stock on the open market as well purchasing shares through private transactions with large existing shareholders
  
• Uber (NASDAQ: UBER) and WeRide also previously formed a partnership to leverage WeRide’s fleet of Robotaxis for ride sharing in major urban cities globally
  

The intrigue:‍

• WeRide has been aggressively expanding their autonomous vehicles into new regions globally, including just launching their Robotaxis in Abu Dhabi and earning an official approval to begin operating in Beijing

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