Top News

• The approval marks Spain’s first national permit for Level 4 autonomous passenger vehicles to operate on public roads.
• The companies will initially deploy 20 vehicles in the Greater Madrid area.
• Madrid represents the fourth of 15 cities planned under the Uber-WeRide partnership.

Uber (UBER) was in the spotlight on Thursday after the mobility services firm and partner WeRide (WRD) secured Spain’s first national permit for Level 4 autonomous passenger vehicles, putting the growing robotaxi race back in focus just days after Tesla (TSLA) launched its Cybercab in the U.S.

At the time of writing, UBER shares edged 0.6% higher in pre-market trading, tracking its first gain in five sessions. WRD stock was trading up 0.7%.

Commercial Launch Targeted For 2026

Spain’s Directorate General of Traffic granted WeRide, Uber and autonomous mobility operator AVOMO permission to operate WeRide’s GXR autonomous vehicles on public roads. This marks Spain’s first national permit for Level 4 autonomous passenger vehicles to operate on public roads.

The companies will initially deploy 20 vehicles in Greater Madrid with an in-car specialist, while conducting mapping, route validation and operational testing. Uber said commercial operations are expected to begin by the end of 2026.

The permit is also the first approval for WeRide’s GXR in the European Union, potentially paving the for certification and commercialization in other European markets.

Uber’s Robotaxi Push Picks Up Steam

Madrid represents the fourth of 15 cities planned under Uber and WeRide’s partnership, which aims to put “tens of thousands” of autonomous vehicles on public roads by 2030. The companies have operations in Dubai and Abu Dhabi and Riyadh.

Uber’s latest move follows the launch of autonomous rides in Zagreb with Pony AI (PONY) and Verne. Zagreb became the first European city where riders could book an autonomous vehicle directly through Uber’s app.

Tesla’s CyberCab Launch Heats Up Autonomous Mobility Race

The expansion comes as autonomous cabs gain greater attention following Tesla’s recent Cybercab launch in Austin. Tesla’s two-seat vehicle has no steering wheel or pedals and is designed specifically for autonomous ride-hailing. Despite some regulatory concerns, Cybercab remains central to Tesla CEO Elon Musk’s push to transform the EV maker into an AI and autonomous-mobility company.

Uber has been aggressively expanding into autonomous driving through partnerships and investments in companies including Waymo, WeRide, and Lucid. The company is expected to commit more than $10 billion across AV investments and infrastructure over the coming years.

Why Arete Downgraded UBER

However, Arete offers a contrary view. The brokerage downgraded Uber to ‘Neutral’ from ‘Buy’ with a $74 price target, according to The Fly. This represents about 4% upside from current levels. 

The firm said UBER’s stock is not yet priced for autonomous vehicle “disruption” and expects overhang from autonomous vehicles to intensify. Arete added that Uber’s own supply of autonomous vehicles is not scaling quickly enough.

Retail Highlights Uber’s ‘Interesting’ AV Plans

Retail sentiment surrounding UBER on Stocktwits flipped to ‘bullish’ from ‘bearish’ over the past 24 hours, while sentiment for WRD trended in the ‘bearish’ territory.

One user highlighted Uber’s “interesting” AV strategy.

UBER shares have declined more than 14% so far this year, while WRD shares have slumped more than 38% in the same time frame.

For updates and corrections, email newsroom[at]stocktwits[dot]com<