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RAS AL KHAIMAH, UAE - WeRide (NASDAQ:WRD), a $2.94 billion market cap autonomous driving technology company, has begun pilot operations of its Robotaxi GXR and Robobus in Ras Al Khaimah, marking its expansion into a third emirate in the UAE. According to InvestingPro data, the company’s stock is currently trading at $10.32 and appears overvalued based on its Fair Value analysis.
The pilot program, launched in partnership with the Ras Al Khaimah Transport Authority (RAKTA), integrates WeRide’s autonomous vehicles into the emirate’s public transport system. His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, was the first passenger to ride the WeRide Robobus on public roads.
WeRide’s Robobus now operates across nine stops on Al Marjan Island, connecting hotels and resorts including the Mövenpick Resort, Hampton by Hilton, and Pullman Hotel. The company’s Robotaxi GXR is serving the city center of Ras Al Khaimah.
Commercial operations are scheduled to begin in early 2026 as part of RAKTA’s public transport system. Passengers will be able to book rides via RAKTA’s digital mobility app. Initially, a safety officer will remain onboard, with fully driverless operations planned for a later phase pending regulatory approval. InvestingPro analysis shows WeRide maintains a WEAK Financial Health Score, though analysts maintain a Strong Buy consensus on the stock. Get detailed insights and 12+ additional ProTips with an InvestingPro subscription.
The initiative forms part of RAKTA’s Comprehensive Mobility Plan 2030, which aims to integrate multiple transport modes while advancing sustainability. WeRide and RAKTA also signed a Memorandum of Understanding covering technical solutions, operational support, and training.
Ras Al Khaimah is developing its tourism sector, particularly on Al Marjan Island, which will host the Middle East’s first casino. WeRide claims to be the first and only autonomous vehicle company with active operations in Ras Al Khaimah.
According to the press release, WeRide has tested or operated autonomous vehicles in over 30 cities across 11 countries and has received autonomous driving permits in seven markets globally. The company reported revenue of $57.29 million in the last twelve months, with 11.15% growth. For comprehensive analysis of WeRide’s financial performance and growth prospects, access the full Pro Research Report available on InvestingPro.
In other recent news, WeRide has secured a self-driving vehicle trial permit from Dubai’s Roads and Transport Authority, allowing the company to conduct Robotaxi trials in the city. Additionally, WeRide won first place at the Dubai World Challenge for Self-Driving Transport, earning nearly $1 million in prize money. In Singapore, Grab has been appointed to operate WeRide autonomous vehicles on two designated routes in Punggol, marking the first deployment of WeRide’s GXR models in Southeast Asia. In Belgium, WeRide received the country’s first federal test permit for a Level 4 autonomous shuttle, enabling public road testing along an 8km loop in Leuven-Heverlee. The company also gained approval for late-night robotaxi testing in Beijing’s High-Level Autonomous Driving Demonstration Zone. UBS has initiated coverage on WeRide with a Buy rating and a $12 price target, highlighting the company’s diversified product offerings, including robotaxis and robobuses. These recent developments underscore WeRide’s expanding global presence in autonomous vehicle technology.
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