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ANTWERP, Belgium - WeRide (NASDAQ:WRD), a $2.98 billion market cap autonomous vehicle company currently trading at $10.46, has secured Belgium’s first federal test permit for a Level 4 autonomous shuttle, the company announced Friday. The permit allows WeRide’s Robobus to undergo testing on public roads along an 8km loop in Leuven-Heverlee with nine stops. According to InvestingPro analysis, the company appears overvalued at current levels.
The permit was signed by Minister of Mobility, Climate and Ecological Transition Jean-Luc Crucke at the Autonomous Mobility Summit. WeRide will conduct the service in partnership with Flemish public transport operator De Lijn, the City of Leuven, and mobility consultancy Espaces-Mobilités.
Following a route safety analysis by the Federal Public Service Mobility and Transport, the Robobus is expected to begin public road testing in the coming weeks, with a safety officer initially onboard. Pending approval from Flemish authorities, De Lijn plans to operate a pilot autonomous shuttle service along the same route from mid-November through January 2026.
"As an AV company, our goal is always to achieve safe Level 4 fully driverless operations," said Jennifer Li, CFO and Head of International of WeRide. "This test permit is an important step on that journey."
According to the press release, the permit makes WeRide the only technology company with autonomous driving permits in seven countries: Belgium, China, France, the UAE, Saudi Arabia, Singapore, and the US.
The company is expanding its European operations, having launched Robotaxis in Furttal, Switzerland last month and obtaining France’s Level-4 driverless public road testing permit in March.
WeRide, which describes itself as the first publicly traded Robotaxi company, was recently named in Fortune Magazine’s 2024 The Future 50 list.
In other recent news, WeRide reported its second-quarter 2025 earnings, showing a significant increase in revenue. Despite posting a net loss, the company has made notable advancements in its autonomous driving technology, which continues to bolster its position in the industry. Additionally, WeRide has received approval to conduct late-night testing of its robotaxi fleet in Beijing’s High-Level Autonomous Driving Demonstration Zone. This testing is permitted between 10 PM and 7 AM and is part of WeRide’s strategy to establish a 24/7 autonomous ride-hailing network in the city. In another development, UBS initiated coverage on WeRide with a Buy rating and a $12.00 price target. The investment bank highlighted WeRide’s diverse product offerings, including L2-L4 robotaxis, robobuses, robosweepers, and robovans, as key factors for its positive outlook. These recent developments underscore WeRide’s ongoing efforts to expand its reach and capabilities in the autonomous vehicle market.
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