Home / Business and Economy / Wayve AI Cars Get Green Light in London
Wayve AI Cars Get Green Light in London
5 Aug
Summary
- Transport for London approved Wayve electric vehicles for licensing.
- Wayve's AV2.0 system does not require HD maps or hand-coded rules.
- Uber stock shows mixed signals with resistance at higher levels.
Transport for London (TfL) has granted Private Hire Vehicle licenses to several Wayve electric vehicles, overcoming a crucial regulatory obstacle for their impending launch. The Ford Mustang Mach-E vehicles, powered by the Wayve AI Driver and utilizing cameras and radar, have been confirmed by TfL to meet all necessary policy and safety standards. This completes the licensing requirement for the operator, driver, and vehicle with a single authority.
These approvals pave the way for Uber's expanded autonomous push, integrating Wayve's AV2.0 system, which notably does not depend on HD maps, hand-coded rules, or fixed geofenced areas. Wayve has been testing its technology in London since 2018 and has experience in over 500 cities globally. Uber itself is building a hybrid network combining autonomous vehicles with human drivers, partnering with more than 30 AV companies.
Uber's stock (UBER) is currently trading at $73.90, showing a 2.93% increase in premarket trading on Wednesday. Technically, the stock is approximately 3.4% above its 20-day simple moving average of $71.57 but remains 5.6% below its 200-day simple moving average of $78.35. The Relative Strength Index (RSI) at 51.43 suggests a neutral market position, indicating potential upward momentum without a strong trend reversal signal. Key resistance is noted at $78.50, with support found at $69.50.
