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GUANGZHOU, China - WeRide (Market cap: $2.73 billion), a company specializing in autonomous driving technology, has recently launched a 24-hour Robotaxi pilot operation in Guangzhou, marking the introduction of China’s first round-the-clock autonomous ride-hailing network within a major city’s central areas. According to InvestingPro analysis, the company currently appears overvalued at its trading price of $9.59. The service covers significant landmarks and transportation hubs, including the Canton Tower, the Canton Fair Complex, and the Guangzhou Baiyun International Airport.
The company’s latest move represents a notable advancement in the commercialization of its Robotaxi services, which users can access via the WeRide Go app to book rides at any time, including airport and rail transfers. With annual revenue of $49.48 million and projected revenue growth of 115% for FY2025, WeRide’s expansion trajectory looks promising. The company’s autonomous vehicles have been operational on public roads since 2019, when it launched China’s first paid autonomous ride-hailing service in Guangzhou. Since then, the company has expanded its operations to eight cities, including international locations such as the UAE and Switzerland. Get deeper insights into WeRide’s growth potential with InvestingPro’s exclusive research reports, covering over 1,400 US stocks.
WeRide’s growth has been rapid, with the company touting over 2,000 days of public operations and a clean safety record with no active safety incidents. The firm, which prides itself on its "WeRide Speed" for development and deployment, received approval for commercial Robotaxi services in Beijing on February 24, 2025, and has recently expanded its partnership with Uber to launch Robotaxi fleets in additional cities globally.
The Guangzhou network’s launch is part of WeRide’s strategy to enhance its technology and services to provide safer, more efficient, and convenient transportation solutions. While analysts maintain a bullish outlook with price targets ranging from $19.26 to $23.20, InvestingPro’s Financial Health Score indicates some concerns at 1.56 (WEAK). The company operates in over 30 cities across 10 countries and holds driverless permits in multiple jurisdictions. WeRide’s achievements include being named on Fortune Magazine’s 2024 "The Future 50" list and becoming the first publicly traded Robotaxi company.
This expansion into 24-hour operations within Guangzhou’s core urban areas is based on a press release statement from WeRide and underscores the company’s commitment to advancing autonomous driving technology and its applications in everyday transportation.
In other recent news, WeRide Inc. reported a mixed performance for Q4 2024, with a 3% year-over-year decrease in total revenue, amounting to $141 million. Despite this decline, the company saw a 46% increase in product revenue, reaching $52 million, driven by new product launches. WeRide’s strategic focus on innovation and international expansion was evident as it rolled out new models and expanded its autonomous vehicle fleet to over 1,000 vehicles across various cities globally. In a significant regulatory achievement, WeRide secured France’s first Level-4 driverless public road testing permit, marking its presence as the first company to hold such permits in five countries, including China and the U.S.
Furthermore, WeRide announced a strategic partnership to expand its robotaxi services to Dubai, collaborating with Dubai’s Road and Transport Authority and Uber. This move aligns with Dubai’s vision to lead in smart transportation and highlights WeRide’s commitment to global expansion. The partnership is expected to enhance Dubai’s transport system’s efficiency and safety. Meanwhile, WeRide continues to leverage its partnerships with major industry players like Uber and Renault Group to build a collaborative ecosystem for autonomous driving technology. As the company navigates these developments, investors and industry observers remain attentive to WeRide’s regulatory and consumer adoption strategies in new markets.
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