Transport for London licensed Wayve's Ford Mustang Mach-E fleet for private hire use, while investors looked to Uber's second-quarter earnings after more than 100,000 riders joined the waitlist.
Uber Technologies, Inc. shares rose nearly 3% in Wednesday premarket trading after Transport for London licensed several Wayve electric Ford Mustang Mach-E vehicles for private hire use, clearing a key step toward autonomous ride-hailing in the capital. The approvals satisfy the city's operator-driver-vehicle licensing requirement, with a TfL-licensed driver remaining onboard, and come after more than 100,000 Londoners joined Uber's interest list for early access later this summer ahead of a wider launch. Investors were also awaiting Uber's second-quarter earnings later Wednesday. Wayve says its AV2.0 system operates without HD maps, hand-coded rules or fixed geofenced areas; it has been tested in London since 2018 and demonstrated across more than 500 cities, while Uber says it works with more than 30 autonomous-vehicle partners. Benzinga Pro data showed the stock up 2.93% at $74.10 in premarket, and a technical snapshot in the report put the shares at $73.90, 3.4% above the 20-day simple moving average and 5.6% below the 200-day average, with analysts maintaining a Buy consensus and an average price forecast of $107.50.