Alphabet's self-driving unit Waymo closes $5.6 billion funding round as robotaxi race heats up in the U.S.
Publishing timestamp: 2024-10-25 13:12:18
Summary
Alphabet-owned Waymo has closed a $5.6 billion funding round to expand its robotaxi service across the U.S. The funding will be used to advance their technology and expand their Waymo One ride-hailing service in major metro areas. Waymo is the only company operating a commercial robotaxi service and has partnerships with Uber and Hyundai. Despite some safety concerns and incidents, Waymo's self-reported data suggests their vehicles crash less often than human drivers. They are also testing their driverless vehicles in harsher weather conditions with hopes of expanding internationally.
Sentiment: POSITIVE
Keywords: venture capital, tesla inc, business news, general motors co, alphabet inc, autos, driverless cars, breaking news: technology, technology,