Stock Track | WeRide-W Plummets 5.15% Intraday as China Suspends Autonomous Driving Permits
Stock Track
Apr 29
WeRide-W's stock plummeted 5.15% during intraday trading on Wednesday.
The decline comes after China suspended issuing new licenses for autonomous vehicles following an incident last month where dozens of Baidu's Apollo Go robotaxis suddenly stopped in Wuhan, stranding passengers and disrupting traffic. The suspension prevents autonomous driving companies from adding new robotaxis to their fleets, starting new test projects, or expanding to new cities.
Regulators have called for local governments to conduct a full self-review and enhance safety monitoring to prevent similar incidents, according to reports.
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