Chinese self-driving stocks, Pony AI Inc (NASDAQ: PONY) and WeRide Inc (NASDAQ: WRD), are flying high on Tuesday and they have the San Francisco-based Uber Technologies Inc (NYSE: UBER) to thank.
The ride-hailing giant announced a strategic partnership with PONY this morning, only hours after it expanded its collaboration with WRD as well, demonstrating sheer commitment to strengthening its hold on the global robotaxi market.
Also today, UBER announced plans of investing $700 million to acquire an 85% stake in Turkish food delivery company, Trendyol GO.
Uber shares are currently up some 30% versus their recent low.
Uber’s partnership with Pony AI
Uber has teamed up with Pony AI to bring robotaxis to the Middle East by the end of 2025.
“Partnering with Uber accelerates our shared mission to make autonomous mobility a real, everyday experience for more consumers around the world, said Dr. James Peng, the chief executive of PONY, in a press release on Tuesday.
Peng also confirmed that the robotaxi specialist will eventually extend its collaboration with Uber to other markets as well.
Including today’s gains, Pony AI stock is up nearly 250% versus its year-to-date low in April.
Note that PONY has also partnered with Tencent recently to enable users to book a robotaxi from within the WeChat app.
Wall Street currently has a consensus “buy” rating on Pony AI shares.
Uber’s partnership with WeRide
On Tuesday, the NYSE-listed mobility giant doubled down on its partnership with WeRide as well to bring autonomous vehicles to another 15 cities globally.
“This expansion aligns with WRD’s ambitious strategy for global growth – to make autonomous driving solutions more affordable and accessible to people worldwide,” Tony Han, the chief executive of WeRide, told investors in a press release today.
Note that UBER and WRD have successfully launched robotaxi operations in Abu Dhabi already – and are scheduled to bring them to Dubai as well in 2026.
WeRide stock rallied some 30% on the Uber news this morning but is still down well over 75% versus its year-to-date high in February.
Uber’s Q1 earnings preview
Uber’s partnerships with Pony AI and WeRide Inc. suggest the ride-hailing giant is fully committed to using the rapidly evolving autonomous driving technology to its benefit.
The multinational based out of San Francisco, CA has announced these strategic alliances only a day before it’s scheduled to report its financial results for the first quarter.
Consensus is for UBER to earn 51 cents a share on $11.6 billion in revenue in its fiscal Q1.
Ahead of the company’s earnings release on May 7th, Wall Street has a consensus “buy” rating on Uber stock with price targets going as high as $115, indicating potential upside of more than 35% from here.
The post Pony AI, WeRide surge on Tuesday: Why are self-driving stocks rising? appeared first on Invezz
