Waymo is somehow worth more than Ford after raising $5.6B in funding
Waymo currently provides more than 100,000 paid rides per week to U.S. users go through Brad Anderson November 4, 2024 09:10 At the end of October, Waymo received $5.6 billion in new financing, valuing the company at more than $45 billion. The funds will be used to support fleet expansion, including adding the Hyundai Ioniq 5 electric vehicle to the lineup. The Google-owned company plans to form a ride-hailing partnership with Uber in Austin and Atlanta starting next year. Alphabet's self-driving unit is testing its fleet of self-driving robotaxis in a handful of cities but is now valued at more than $45 billion following recent investments. To put this into perspective, the entire Volkswagen Group has a market capitalization of 48 billion euros (approximately $52 billion), and Ford's market capitalization is $40 billion. Yes, Waymo is as valuable as they are now. Last week, Waymo announced that it had raised an undisclosed amount of $5.6 billion in new capital. The…
Waymo selects Hyundai Ioniq 5 for new RoboTaxi
The electric vehicles will be built in the United States and equipped with Waymo's sixth-generation self-driving system Waymo and Hyundai announced a strategic partnership that will see the self-driving ride-hailing company use the Ioniq 5. The U.S.-made electric vehicle will be equipped with Waymo's sixth-generation autonomous driving system, with road testing expected to begin late next year. The Ioniq 5 will eventually be added to the Waymo One fleet, and the two companies aim to produce them "in large quantities." Waymo and Geely jointly launched Zeekr EV in 2021, focusing on mobility. The model is expected to be added to Waymo's self-driving fleet and effectively replace its aging Jaguar I-Paces. While this was a solid plan a few years ago, the political climate has changed and China has become America's boogeyman. Just last week, the Biden administration proposed a new rule that would effectively ban all Chinese cars, including Buick and Lincoln models. More: New U.S. tariffs could hit Waymo's…
Waymo considering using Hyundai Ioniq 5 for next-generation Robotaxi
Waymo and Hyundai have reportedly met more than three times to discuss Hyundai building a self-driving Ioniq to replace Waymo's Zeekr fleet go through Chris Chilton September 19, 2024 19:11 Waymo and Hyundai Motor have held talks to build the self-driving taxi company's next generation of self-driving taxis, according to South Korean media reports. The two parties are discussing converting Hyundai's Ioniq 5 into a fully autonomous vehicle to replace Waymo's existing China-made Zeekr model. Hyundai recently delayed its own Ioniq 5 robotaxi plans until 2026, a decision that led to layoffs at the company in the United States. Waymo is reportedly in talks with Hyundai Motor about using the Korean automaker's Ioniq 5 EV for its next-generation robotaxis. According to South Korean media, representatives of the two companies have met more than three times to discuss Hyundai's plan to build a customized Ioniq 5 for Waymo's ride-hailing service across the United States (via (Reuters). Related: Waymo's self-driving taxis get…
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