In contrast, General Motors has decided to discontinue its Cruise robotaxi service, shifting focus to autonomous tech for personal vehicles. Tesla, led by Elon Musk, aims to enter the robotaxi market but has yet to demonstrate fully autonomous capabilities, as its current technologies require a human driver. Waymo’s robotaxis operate without human drivers, though they are monitored remotely. Recently, Waymo raised $5.6 billion in its largest funding round to support its expansion plans and will begin sourcing more cost-effective electric vehicles from Hyundai next year, alongside adopting lower-cost computing and sensor hardware.
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- Waymo plans to expand internationally by starting its first overseas tests in Tokyo with a fleet of electric Jaguar I-Pace SUVs, partnering with Nihon Kotsu and GO.
- The company is also expanding its U.S. service to Miami, Austin, and Atlanta, in addition to its current operations in Phoenix, San Francisco, and Los Angeles.
- Waymo's annualized revenue is tracking at over $150 million, based on its weekly ridership of more than 150,000 riders.
- Waymo raised $5.6 billion in its largest funding round to date and plans to source electric vehicles from Hyundai, which are more cost-effective than its current models.