Alphabet, Google’s parent company, is set to invest an additional $5 billion into Waymo, its leading autonomous driving division, over the coming years. This announcement was made by Ruth Porat, Alphabet’s CFO, during the company’s latest financial earnings call. Porat emphasized, “This investment is in line with our mission to establish Waymo as the top player in self-driving technology.”
Waymo, formerly Google’s self-driving car project, has been advancing autonomous vehicle technology for more than ten years. Originating from Stanford University’s DARPA Grand Challenges entries, the project initially used modified Toyota Priuses and Lexus SUVs. The focus later shifted to developing innovative pod cars without steering wheels.
In 2016, Waymo became a standalone company within Alphabet. The next year saw a transition from pod cars to deploying hybrid Chrysler Pacifica minivans and fully electric Jaguar I-Pace vehicles, outfitted with Waymo’s advanced sensors and driving systems. Recently, Waymo has also started testing its technology with Zeekr’s electric vehicles.
Waymo has successfully avoided many of the pitfalls experienced by competitors and now operates ride-hailing services in San Francisco, Phoenix, and Los Angeles, with Austin, Texas, as the next expansion target. Waymo’s services are also being tested in Washington, DC. The company reports handling over 50,000 paid rides weekly across its service areas. Additionally, Waymo is seeking approval to offer rides to and from San Francisco International Airport, according to TechCrunch.