Stock of WeRide Experiences Over 10% Increase Today
WeRide, a leading autonomous driving technology company, has made significant progress in Europe with the announcement of an autonomous shuttle operation in Belgium. The company's Robobus, granted a test permit for Level 4 autonomy, will be operated by De Lijn along an 8-kilometer stretch between Heverlee and Leuven.
The test permit, issued by the relevant authorities, allows WeRide to test its Robobus on public streets with nine stops along the route. This marks a significant step forward in the development and testing of autonomous driving technology by WeRide.
WeRide's stock (WRD) is currently trading at $11.54, with a market cap of $3B. The day's range for the stock is $10.39 - $11.63, and the 52-week range is $6.03 - $44.00. On Friday, WeRide's stock closed up by over 10% in value on the stock market.
The operation of the autonomous shuttle by De Lijn is scheduled for mid-November through January of next year. This pilot program, as stated by Jennifer Li, CEO of WeRide, will provide an opportunity to demonstrate WeRide's technology in real-world conditions on public roads while setting a strong precedent for future autonomous vehicle testing across Europe.
The mobility consultancy firm involved in the autonomous vehicle test initiative in Belgium with WeRide is Espaces-Mobilités. The test operations will be coordinated between WeRide, public transport agency De Lijn, the Leuven government, and Espaces-Mobilités.
WeRide is the first company in the world to hold autonomous operating licenses in seven countries, including Belgium, the U.S., France, China, the United Arab Emirates, Singapore, and Saudi Arabia. This latest development in Europe further cements WeRide's position as a global leader in autonomous driving technology.
The Society of Engineers devised a scale ranging from Level 0 to Level 5 for autonomous vehicles, with Level 4 being high automation. This means that WeRide's Robobus can operate independently under most conditions, requiring human intervention only in rare and specific situations.
The press release did not mention any changes in WeRide's stock value on the day of the announcement. However, the S&P 500 inched up by 0.5% on the same trading day, while WeRide's stock trounced it, reflecting investor confidence in the company's future prospects.
As the autonomous driving industry continues to evolve, WeRide's progress in Europe is a testament to its commitment to innovation and its potential to shape the future of mobility. With ongoing test operations in Belgium, we can expect to see more exciting developments from WeRide in the near future.
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