Google’s parent company Alphabet has channelled in another $5 billion into its autonomous self-driving startup Waymo, to be used over the coming years to develop robotaxis, as per several media reports.
Earlier this month, it was reported that Waymo was planning to expand its robotaxi service network in the San Francisco Bay Area, the Los Angeles Metropolitan Area and Austin, Texas.
Unlike General Motors (GM), Alphabet has showed a lot of faith into its self-driving car offshoot with the $5 billion investment. Conversely, GM’s self-driving car company Cruise recently had to ditch its Origin robotaxi in favour of the Bolt EV. Former Cruise CEO Kyle Vogt even expressed his disappointment over GM’s decision on X.
Google has not given up on the idea of delivering “world-leading self-driving technology”, as voiced by Alphabet CFO Ruth Porat in a recent quarterly financial results call. During the earnings call to investors, the Alphabet CFO said that the company’s investment of $5 billion into Waymo "is consistent with enabling Waymo to build the world's leading self-driving technology.”
Alphabet’s Waymo has been into developing self-driving cars for more than a decade now. A Google car project in the early years, Waymo was given full autonomy in 2016. Waymo conducts its business through ride-hailing services in Los Angeles (where it began its rides in 2024), San Francisco and Phoenix, and, as we mentioned, intends to expand its services to Austin, Texas.
Considering how brands like Tesla have been struggling with self-driving tech, how successful Waymo gets in developing a commercially viable robotaxi that’s perfectly safe for the passengers remains to be seen. But with GM nixing the Cruise’ Origin robotaxi, the self-driving car startup has already got one competitor out of the way.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
