Ride-hailing company Uber (UBER) and autonomous driving firm WeRide (WRD) have launched robotaxi rides in Riyadh. Notably, this is the first time that driverless vehicles will be made available on the Uber platform in Saudi Arabia. The service is part of a pilot program that allows passengers traveling between Roshn Front and Princess Noura University to choose a WeRide Robotaxi GXR. In addition, each robotaxi currently includes a safety operator in the vehicle to oversee operations.
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However, over time, the companies expect to transition to a fully driverless service. This project builds on previous developments in the region, such as the July launch of Saudi Arabia’s Initial Operational Phase for Autonomous Vehicles and the issuance of the country’s first robotaxi permit to WeRide. The company was also the first to complete the regulatory sandbox for AV piloting set by the Transport General Authority.
Moreover, this pilot program in Riyadh comes after WeRide and Uber partnered together in Abu Dhabi at the end of 2024. Unsurprisingly, Uber’s Head of Autonomous Mobility & Delivery, Sarfraz Maredia, said that the expansion helps bring AVs to more parts of the Middle East, while Jennifer Li, WeRide’s CFO and Head of International, noted that the partnership supports long-term goals for safer and more efficient urban transport.
Which Transportation Stock Is the Better Buy?
Turning to Wall Street, out of the two stocks mentioned above, analysts think that WRD stock has more room to run than UBER. In fact, WRD’s price target of $13.75 per share implies almost 27% upside versus UBER’s 16.3%.
