Fubotv earnings beat by $0.10, revenue topped estimates
GUANGZHOU - WeRide (NASDAQ:WRD), currently trading at $7.79 and considered overvalued according to InvestingPro analysis, has obtained authorization to road test its autonomous logistics vehicle, Robovan W5, in Huangpu District, Guangzhou, according to a press release statement from the company.
This marks the second active road testing permit for the Robovan W5, following an earlier approval in Guangzhou’s Nansha District in April. The company claims to be the first and only entity to receive such authorization in Huangpu.
The development comes less than a month after Guangzhou Development District and Huangpu District jointly introduced a policy framework on June 6 to support the deployment of autonomous technologies across ride-hailing, sanitation, and smart logistics sectors.
The Robovan W5 is designed for urban logistics with a cargo volume of 5.5m³, maximum payload capacity of 1,000kg, and driving range of up to 220km. The vehicle features modular cargo compartments that can be configured for various delivery scenarios.
The autonomous vehicle is equipped with Level-4 autonomous driving technology and includes safety features such as a redundant sensor suite, emergency braking systems, and real-time driving status monitoring.
WeRide, which describes itself as the first publicly traded Robotaxi company, operates autonomous vehicles in over 30 cities across 10 countries. The company states it has received autonomous driving permits in China, the UAE, Singapore, France, and the US.
The global smart logistics sector is projected to exceed $100 billion over the next three years and reach an estimated $784 billion by 2030, according to information provided in the company’s announcement. InvestingPro analysts have set price targets ranging from $13.06 to $21.11, suggesting potential upside despite the company’s current weak financial health score. Get detailed insights and more exclusive ProTips with an InvestingPro subscription, including access to comprehensive research reports covering 1,400+ US stocks.
In other recent news, WeWrite reported a 1.8% increase in total revenue, reaching $72.4 million for the first quarter of 2025. The company’s product revenue saw a significant boost, rising 46.7% to $9.5 million, while net loss decreased by 17.7% to $385.1 million. Meanwhile, WeRide has announced a memorandum of understanding with the Road and Transport Authority and Uber to pilot autonomous vehicles, signaling a strategic move into new markets. WeRide is also extending its partnership with Renault to offer a Level-4 autonomous minibus service at the 2025 Roland-Garros tournament. This collaboration is part of WeRide’s broader efforts to expand its autonomous mobility solutions across Europe. Additionally, WeRide’s Robobus has been commercially deployed on a large scale, supporting low-carbon transportation in nearly 30 cities worldwide. The company’s ongoing developments reflect a trend towards integrating advanced technology into public transportation systems.
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