WeRide Stock Surges After Hours: What's Driving The Action?
WeRide Inc (NASDAQ:WRD) shares are surging in Monday’s after-hours session after the company and Uber Technologies Inc (NYSE:UBER) announced an expanded partnership.
What Happened: After the market close on Monday, autonomous driving technology company WeRide and Uber announced an expansion of their previously announced strategic partnership that will add 15 cities to their autonomous vehicle expansion plans over the next five years.
The news follows a successful launch in Abu Dhabi, which will soon be expanded to Dubai. In the 15 additional cities, WeRide’s robotaxi services will be available through the Uber app, and Uber will be responsible for fleet operations.
“We are excited to take our partnership with Uber to new heights. Expanding into new cities across multiple continents reflects both companies’ confidence in our technology and our shared commitment to innovative, sustainable transportation solutions,” said Tony Han, founder and CEO of WeRide.
“This expansion aligns with WeRide’s ambitious strategy for global growth — to make autonomous driving solutions more affordable and accessible to people worldwide.”
WRD Price Action: WeRide shares were up 20.71% after-hours, trading at $8.27 at the time of publication Monday, according to Benzinga Pro data.
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Photo: Courtesy of WeRide.
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