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Uber's AV Ambitions in Spain Gain Momentum: More Growth Ahead?
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Key Takeaways
Uber, WeRide and AVOMO secured Spain's first national permit for Level 4 autonomous passenger vehicles.
The Madrid rollout will start with 20 WeRide-equipped vehicles, with commercial service targeted by end-2026.
Uber gains European AV exposure through an asset-light model using partner technology and fleets.
Uber Technologies (UBER - Free Report) , a Chinese company, WeRide (WRD - Free Report) and AVOMO, the autonomous vehicle division of Moove Cars Group, have secured Spain’s first national permit for Level 4 autonomous passenger vehicles to operate on public roads. Granted by Spain’s Directorate General of Traffic under the ES-AV framework and supported by the Regional Government of Madrid, the authorization represents a key regulatory step toward launching the country’s first commercial autonomous vehicle service.
Spain is one of Europe’s largest urban mobility markets, serving millions of residents and visitors annually. Madrid’s substantial commuter demand and established ride-hailing ecosystem make the region well suited for introducing autonomous mobility services. The planned rollout marks WeRide and Uber’s joint entry into Spain and Madrid’s inclusion as the fourth of 15 cities covered by their strategic partnership. The companies plan to expand into another 11 cities by 2030 and eventually deploy tens of thousands of autonomous vehicles on public roads worldwide.
The approval represents WeRide’s ninth autonomous-driving permit globally and strengthens Madrid’s role as a gateway for its broader European expansion. It also advances autonomous mobility in the region from the planning stage toward real-world deployment. AVOMO’s experience managing autonomous fleets in the United States is expected to support the initiative through careful preparation, rigorous operating procedures and a safety-focused approach.
This move expands Uber’s autonomous-mobility footprint into Europe and provides access to Spain’s sizeable urban transportation market without requiring it to develop autonomous-driving technology or manage vehicle fleets independently. Integrating WeRide’s technology and AVOMO’s operating capabilities into Uber’s platform could broaden ride availability, improve network efficiency and reduce the cost and complexity of scaling autonomous services. A successful Madrid rollout could also establish a repeatable model for expansion into other Spanish and European cities, strengthening Uber’s position as a platform for both human-driven and autonomous transportation.
Commercial operations in Spain are expected to commence by the end of 2026, subject to the completion of deployment preparations and the fulfillment of operational and regulatory requirements. The initiative combines WeRide’s autonomous-driving technology, Uber’s established mobility platform and AVOMO’s fleet-management expertise, creating a scalable and asset-light framework for autonomous ride-hailing services.
The permit enables the three companies to begin preparatory activities, including mapping, route validation and operational-readiness testing. The initial phase will involve 20 vehicles equipped with WeRide’s latest autonomous-driving technology. These vehicles will operate in high-demand areas across Greater Madrid under the supervision of in-car vehicle specialists. As the first EU national approval for WeRide’s GXR autonomous vehicle, the authorization could also provide a regulatory reference point for future certification and commercialization across Europe.
The service will be the first autonomous vehicle deployment planned by Uber and WeRide in Europe. Supported by Spain’s regulatory framework, the project is expected to lay the groundwork for future autonomous transportation services across the country and the broader European market.
Uber currently works with more than 30 autonomous-vehicle partners across mobility, delivery and freight, collectively completing millions of autonomous trips annually. It expects to facilitate such journeys in as many as 15 cities by the end of 2026 and aims to become the world’s largest facilitator of autonomous trips by 2029.
Earlier in the year, Uber entered into a strategic partnership with Amazon’s (AMZN - Free Report) Zoox to deploy its purpose-built robotaxis on the former’s platform. The Amazon unit’s robotaxis differ from many other autonomous vehicles currently in development because they are not modified versions of traditional passenger cars. Instead, the vehicles are purpose-built specifically for ride-hailing services and designed to enhance rider comfort and social interaction. The Amazon unit and Uber indicated that Zoox rides are expected to be available in Los Angeles next year.
UBER’s Share Price Performance, Valuation and Estimates
Shares of UBER have gained in single digits over the past three months, outperforming the Zacks Internet-Services industry over the same time frame.
3-Month Price Comparison
Image Source: Zacks Investment Research
From a valuation standpoint, UBER trades at a 12-month forward price-to-sales of 2.31X. UBER is inexpensive compared with its industry.
Image Source: Zacks Investment Research
See how the Zacks Consensus Estimate for Uber’s earnings has been revised over the past 90 days.
View the Zacks #1 Rank List
Image: Bigstock
Uber's AV Ambitions in Spain Gain Momentum: More Growth Ahead?
Key Takeaways
Uber Technologies (UBER - Free Report) , a Chinese company, WeRide (WRD - Free Report) and AVOMO, the autonomous vehicle division of Moove Cars Group, have secured Spain’s first national permit for Level 4 autonomous passenger vehicles to operate on public roads. Granted by Spain’s Directorate General of Traffic under the ES-AV framework and supported by the Regional Government of Madrid, the authorization represents a key regulatory step toward launching the country’s first commercial autonomous vehicle service.
Spain is one of Europe’s largest urban mobility markets, serving millions of residents and visitors annually. Madrid’s substantial commuter demand and established ride-hailing ecosystem make the region well suited for introducing autonomous mobility services. The planned rollout marks WeRide and Uber’s joint entry into Spain and Madrid’s inclusion as the fourth of 15 cities covered by their strategic partnership. The companies plan to expand into another 11 cities by 2030 and eventually deploy tens of thousands of autonomous vehicles on public roads worldwide.
The approval represents WeRide’s ninth autonomous-driving permit globally and strengthens Madrid’s role as a gateway for its broader European expansion. It also advances autonomous mobility in the region from the planning stage toward real-world deployment. AVOMO’s experience managing autonomous fleets in the United States is expected to support the initiative through careful preparation, rigorous operating procedures and a safety-focused approach.
This move expands Uber’s autonomous-mobility footprint into Europe and provides access to Spain’s sizeable urban transportation market without requiring it to develop autonomous-driving technology or manage vehicle fleets independently. Integrating WeRide’s technology and AVOMO’s operating capabilities into Uber’s platform could broaden ride availability, improve network efficiency and reduce the cost and complexity of scaling autonomous services. A successful Madrid rollout could also establish a repeatable model for expansion into other Spanish and European cities, strengthening Uber’s position as a platform for both human-driven and autonomous transportation.
Commercial operations in Spain are expected to commence by the end of 2026, subject to the completion of deployment preparations and the fulfillment of operational and regulatory requirements. The initiative combines WeRide’s autonomous-driving technology, Uber’s established mobility platform and AVOMO’s fleet-management expertise, creating a scalable and asset-light framework for autonomous ride-hailing services.
The permit enables the three companies to begin preparatory activities, including mapping, route validation and operational-readiness testing. The initial phase will involve 20 vehicles equipped with WeRide’s latest autonomous-driving technology. These vehicles will operate in high-demand areas across Greater Madrid under the supervision of in-car vehicle specialists. As the first EU national approval for WeRide’s GXR autonomous vehicle, the authorization could also provide a regulatory reference point for future certification and commercialization across Europe.
The service will be the first autonomous vehicle deployment planned by Uber and WeRide in Europe. Supported by Spain’s regulatory framework, the project is expected to lay the groundwork for future autonomous transportation services across the country and the broader European market.
Uber currently works with more than 30 autonomous-vehicle partners across mobility, delivery and freight, collectively completing millions of autonomous trips annually. It expects to facilitate such journeys in as many as 15 cities by the end of 2026 and aims to become the world’s largest facilitator of autonomous trips by 2029.
Earlier in the year, Uber entered into a strategic partnership with Amazon’s (AMZN - Free Report) Zoox to deploy its purpose-built robotaxis on the former’s platform. The Amazon unit’s robotaxis differ from many other autonomous vehicles currently in development because they are not modified versions of traditional passenger cars. Instead, the vehicles are purpose-built specifically for ride-hailing services and designed to enhance rider comfort and social interaction. The Amazon unit and Uber indicated that Zoox rides are expected to be available in Los Angeles next year.
UBER’s Share Price Performance, Valuation and Estimates
Shares of UBER have gained in single digits over the past three months, outperforming the Zacks Internet-Services industry over the same time frame.
3-Month Price Comparison
From a valuation standpoint, UBER trades at a 12-month forward price-to-sales of 2.31X. UBER is inexpensive compared with its industry.
See how the Zacks Consensus Estimate for Uber’s earnings has been revised over the past 90 days.
Uber’s Zacks Rank
Uber currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.