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Technology Stocks : Investing in Exponential Growth
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From: Paul H. Christiansen1/30/2018 10:09:55 AM
   of 1084
 
Waymo strikes a deal to buy ‘thousands’ more self-driving minivans from Fiat Chrysler



Waymo, the self-driving unit of Google parent Alphabet, has reached a deal with one of Detroit’s Big Three automakers to dramatically expand its fleet of autonomous vehicles. Fiat Chrysler Automobiles announced today that it would supply “thousands” of additional Chrysler Pacifica minivans to Waymo, with the first deliveries starting at the end of 2018.

Neither Waymo nor FCA would disclose the specific number of vehicles that were bought, nor the amount of money that was trading hands. The manufacturer’s suggested retail price for the 2018 Chrysler Pacifica hybrid minivan starts at $39,995. A thousand minivans would cost $40 million, so this was at the very least an eight-figure deal.

Waymo currently has 600 of FCA’s minivans in its fleet, some of which are used to shuttle real people around for its Early Rider program in Arizona. The first 100 were delivered when the partnership was announced in May 2016, and an additional 500 were delivered in 2017. The minivans are plug-in hybrid variants with Waymo’s self-driving hardware and software built in. The companies co-staff a facility in Michigan, near FCA’s US headquarters, to engineer the vehicles. The company also owns a fleet of self-driving Lexus RX SUVs that is has been phasing out in favor of the new minivans. (The cute “Firefly” prototypes were also phased out last year.)

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