Uber Technologies, Inc. UBER shares are trading marginally higher on Wednesday in the premarket session.

Today, the company has finalized a partnership with WeRide, an autonomous driving technology firm, to integrate WeRide’s self-driving vehicles into the Uber platform, starting in the United Arab Emirates.

The partnership is gearing up for an exciting launch in Abu Dhabi later this year, featuring a fleet of WeRide’s autonomous vehicles ready to roll through the Uber app. WeRide currently operates the largest robotaxi fleet in the UAE, where residents can access its robotaxi services through the TXAI app.

However, this bold venture won’t be expanding to the U.S. or China.

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Additionally, in July 2023, WeRide received the UAE’s first and only national license for self-driving vehicles, which permits the testing and operation of its autonomous vehicles on public roads throughout the country.

Earlier this month, Uber inked a multi-year delivery partnership with Darden Restaurants, Inc., set to begin with Olive Garden in late 2024.

The agreement will enable restaurant guests to order on-demand delivery via Darden restaurant channels, with delivery handled by Uber Direct, through Uber’s national delivery network.

According to Benzinga Pro, UBER stock has gained over 72% in the past year. Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF IYT and Franklin Disruptive Commerce ETF BUYZ.

Price Action: UBER shares are trading higher by 0.59% to $77.90 premarket at last check Wednesday.

Photo by Daniel Fung on Shutterstock

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