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Waymo’s latest autonomous driving technology has been seamlessly integrated into Geely’s innovative all-electric Zeekr vehicles. | Supply: Waymo
Waymo announced a $5.6 billion Series C funding round after closing the oversubscribed investment. With the newly secured funding, the corporation announced plans to expand its Waymo One robotaxi service in San Francisco, Phoenix, Los Angeles, Austin, and Atlanta, further solidifying its partnership with Uber through a broader scope of collaboration.
Alphabet’s self-driving subsidiary announced plans to further develop and deploy its autonomous driving technology, the Waymo Driver, across multiple industries in the future. Alphabet led a consortium of investors that also included participation from Andreessen Horowitz, ConsenSys, Perry Creek Capital, Silver Lake Partners, Tiger Global Management, and Temasek Holdings. Rowe Worth.
“Prospects love Waymo. Chase Coleman, founder of Tiger Global Management, notes that the corporation has developed one of the most secure products within the autonomous vehicle sector, alongside another top performer. Their proven track record of building rider loyalty, securing strategic partnerships, and collaborating with industry leaders solidifies their reputation as a steady force in achieving bold goals while maintaining accountability, cementing their position as the dominant leader in the sector.
Received a prestigious award for its sustained excellence in managing the robotaxi market.
Although Waymo isn’t the sole autonomous vehicle company attracting substantial investments promptly, WeRide, a leading Chinese autonomous vehicle company, secured $440.5 million in funding from US investors. Preliminary Public Offering (IPO) and a private placement, as contemplated. WeRide develops a range of self-driving vehicles, including taxis, vans, buses, and road maintenance units. The company is currently testing its capabilities in 30 cities across seven countries.
As Waymo accelerates its autonomous driving technology, the next 12 months promise to be pivotal in shaping the company’s trajectory.
Waymo claims to have achieved unprecedented advancements in its autonomous driving technology throughout 2024. The company expanded its service territories to include , , and , as well as providing curbside pickup at Sky Harbor International Airport.
As part of its enhanced collaboration with Uber in Austin and Atlanta, Waymo announced plans to introduce autonomous ride-hailing services in these cities by 2025. To further enhance its expertise, the company has successfully initiated fully autonomous highway operations in Phoenix and San Francisco. The company’s endeavors have yielded a significant milestone: exceeding 100,000 paid weekly trips, a staggering ten-fold increase from last year.
“While AI is gradually capturing the public imagination, Waymo has spent years honing its vast potential in the realm of physical transportation,” said Egon Durban, co-CEO at Silver Lake. As the pioneer in autonomous driving, Waymo’s innovative approach to artificial intelligence (AI) has revolutionized the industry by successfully monetizing its vast capabilities through cutting-edge research, informed decision-making, and exponential growth in real-world applications.
Waymo’s Sixth technology driver
As Waymo One’s ridership surges, the company reaffirms its commitment to amplifying the safety and mobility benefits of the Waymo Driver in more locations, while concurrently bolstering its operational prowess. The company has recently launched its sixth-generation Waymo Driver, designed to balance value with enhanced capabilities.
The corporation’s latest robotaxi boasts a comprehensive suite of sensors, featuring 13 high-definition cameras, four advanced lidar units, six radar modules, and an array of exterior audio receivers (EARs) for enhanced situational awareness. The comprehensive sensor suite, now available at a lower cost, provides the vehicle with contiguous coverage, extending up to 500 metres in all directions, both day and night, and across diverse environmental conditions.
Waymo is expanding its expertise to Geely’s all-electric Zeekr vehicles and Hyundai’s all-electric IONIQ 5 SUV. In 2021, Waymo partnered with Geely to integrate its autonomous driving technology into the Zeekr model, specifically designed by Geely in Sweden for autonomous ride-hailing services. Earlier in the month, the company forged a comprehensive, multi-year alliance with Hyundai Motor Company, marking a significant milestone in its ongoing efforts to drive innovation and growth.
To promote transparency and enhance public comprehension, Waymo has recently introduced an initiative offering in-depth analysis of its Waymo Driver technology, highlighting its role in bolstering highway safety. The latest iteration of this report significantly expands upon its predecessors by providing a comprehensive update to its security portfolio.
