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Self-driving Waymo robotaxis navigating the highway in Phoenix. | Credit score: Waymo
During Alphabet’s quarterly earnings call on Tuesday, Chief Financial Officer Ruth Porat revealed that the company is pledging up to a multi-year commitment of $5 billion to support Waymo’s growth and development. Despite enduring significant challenges over the past year, General Motors further invested $850 million in its autonomous driving subsidiary, Cruise, last month.
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“Waymo serves as a prime example of this convergence, where technical excellence is seamlessly integrated with operational efficiency,” Porat explained, “As you’ll note in our 10-Q filing, we’ve opted for a new multi-year investment of $5 billion.” With this fresh round of funding, aligning with the most recent annual funding brackets, Waymo can now move forward in establishing itself as the world’s leading autonomous driving technology company.
Alphabet, the parent company of Google, has committed up to $5 billion to. We are deeply appreciative of their unwavering trust in our team’s capabilities, acknowledging the substantial strides we’ve taken in advancing our technology, products, and market presence.
— Tekedra N Mawakana (@TechTekedra)
“Dmitri Dolgov & I are so proud to work alongside the superb workforce at Waymo day-after-day on our mission to be the world’s most trusted driver,” Tekedra Mawakana, a co-CEO of Waymo, wrote on X.
“A special thank you to Alphabet, Waymonauts, and our valued Waymo One passengers!” As we celebrate the collective achievements that mark our progress in enhancing street security and elevating the World’s Most Skilled Driver, it serves as a testament to our unwavering dedication to pushing boundaries and striving for excellence. Dmitri Dolgov, Co-CEO of Waymo, penned a hearty “Cheers!” on X.
The Mountain View, California-based company currently operates self-driving taxi services independently in San Francisco, Arizona, and Phoenix. Additionally, it is testing its capabilities in Austin, Texas. Last month, Waymo introduced a waitlist in San Francisco, allowing anyone within the city to summon a robotaxi using its app.
Waymo’s dominance in the robotaxi market remained unabated, as it further solidified its position through continued successful operation.
California’s regulatory landscape has cleared a path for robotaxis to navigate, allowing the funding to materialize. Final month, California Sen. Dave Cortese has removed Senate Invoice (SB) 915 from consideration. Would enable native municipalities to impose reasonable limits and taxes on autonomous vehicle (AV) companies, thereby mirroring existing regulations governing taxi corporations operating within the state’s boundaries.
Waymo’s Autonomous Milestones: A Bumpy Road to Success?
In the past year, Waymo has significantly expanded its services, extending coverage areas in Phoenix, introducing operations in Los Angeles, and eliminating its waitlist in San Francisco. In Phoenix, the corporation has expanded its operations by adding 90 square feet of office space. miles (233 sq. From a small footprint of approximately 5 km² in metropolitan Phoenix, Waymo has expanded its largest service area to 315 square kilometers, enabling its riders to enjoy Waymo One’s autonomous driving experience throughout this extensive territory. miles (815.8 sq. km) of the Valley. The newly expanded service area now extends further into North Phoenix, ultimately encompassing the vibrant community of Desert Ridge.
Less than two weeks after securing approval to launch a driverless taxi service in Los Angeles, Waymo began offering its self-driving ride-hailing service to the general public in the city. Waymo plans to introduce a fully autonomous taxi service in Austin, Texas, by the end of 2024.
In Los Angeles, Waymo revealed that its self-driving ride-hailing service operates around the clock, seven days a week, within a 63-square-mile radius spanning from Santa Monica to Downtown LA. Waymo intends to expand its operations gradually, mirroring the approach it has employed in both Phoenix and San Francisco. The initial ride offerings in LA will be complimentary, with a planned shift to paid services expected within a few weeks’ time. The company has the potential to integrate 50 self-driving robotaxis into its LA-based fleet.
The corporation has faced significant challenges on the road this year as well. In June, Waymo issued a voluntary software update recalling all 672 of its self-driving vehicles following an incident where one of its autonomous cars crashed into a telephone pole in Phoenix last month. This was Waymo’s second-ever recall.
Upon completing the software programme’s development, the corporation promptly filed a recall notice with the National Highway Traffic Safety Administration (NHTSA). The corrected text reads: Waymo has acknowledged a mistake in its software system, which initially gave a low harm rating to a phone pole. Additionally, it refines the corporation’s mapping system to allow autonomous vehicles to more accurately navigate the challenging street edges in previously unmapped alleyways.
Waymo’s engineers conducted a software recall at their central depot, where their self-driving vehicles typically return for maintenance and testing. The update was not a traditional over-the-air software replacement.
