Driverless autos, trucks, taxis etc. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Driverless autos, trucks, taxis etc.

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Sam

8/20/2024 11:03:35 AM

of 567

Alphabet's Waymo robotaxi unit doubles its paid rides in three months

REUTERS 11:00 AM ET 8/20/2024

Symbol Last Price Change

GM	46.17	+0.41 (+0.896%)
AMZN	178.12	-0.1 (-0.0561%)
QUOTES AS OF 11:00:34 AM ET 08/20/2024

SAN FRANCISCO, Aug 20 (Reuters) - Alphabet's Waymo said on Tuesday it had doubled its paid rides to 100,000 per week in just over three months as the autonomous ride-hailing firm expanded its areas of service and allowed more people to ride its robotaxis.

Waymo's expansion comes just a month after Alphabet said it was planning a multi-year $5 billion investment in the company even as autonomous vehicle technology continues to face widespread skepticism, tight regulatory scrutiny and federal investigations.

Waymo, which has about 700 vehicles in its fleet, is the only U.S. firm operating uncrewed robotaxis that collect fares. The company opened its service to everyone in San Francisco in June without joining a waitlist while expanding its operations in metro Phoenix. This month, Waymo extended services to the San Francisco Peninsula and to certain parts of Los Angeles.

"People still think of autonomous vehicles as the faraway future, but for more and more people they're now an everyday reality," Chief Product Officer Saswat Panigrahi said in a statement, adding that Waymo's expanded "deliberately" and by "optimizing costs".

That is critical as competition for Waymo is expected to intensify. Tesla CEO Elon Musk is expected to unveil the electric vehicle market leader's delayed plans for its robotaxi product in October.

Others in the race include General Motors'(GM) Cruise, which is finding its way back to U.S. roads with safety drivers after a major accident last year; Amazon's(AMZN) Zoox, which is expanding testing for its vehicles built without steering wheels and pedals; and China-based WeRide, which is seeking a $5 billion valuation from its New York IPO and got approval from California to conduct tests with passengers. (Reporting by Abhirup Roy in San Francisco; Editing by Kim Coghill)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next