Unbelievable! Waymo, the Alphabet-owned self-driving car company, is expanding its robotaxi service area by 10 square miles in cities surrounding San Francisco. This move includes Daly City, Broadmoor, and Colma, pushing the total commercial service territory to about 55 square miles. Not only that, but Waymo is also adding 16 square miles of new robotaxi service area in Los Angeles, covering Marina del Rey, Mar Vista, Playa Vista, and more of Hollywood, Chinatown, and Westwood.
Waymo's goal is to scale its commercial operations and eventually become profitable, and with the ever-expanding service territories, they are reaching new milestones. The company has provided over two million paid trips to riders across all Waymo One markets, including Los Angeles, San Francisco, and Phoenix. Additionally, their fleet of commercial vehicles serves more than 50,000 paid trips each week across these markets.
While generating revenue, Waymo's operations are still supported by Alphabet, its parent company, which recently announced a $5 billion investment into Waymo. This latest expansion follows approval from the California Public Utilities Commission (CPUC) to operate a commercial robotaxi service in Los Angeles, the San Francisco Peninsula, and on San Francisco freeways.
Waymo operates a commercial service 24/7 in San Francisco since August 2023, with approval to expand in new territories in March 2024. The company has around 300 vehicles in San Francisco, 50 in Los Angeles, and 200 in Phoenix, with additional testing fleets in Austin and Mountain View, California. Demand is increasing in Los Angeles, with over 150,000 people on the waitlist, while the waitlist has been removed for San Francisco riders.
In conclusion, Waymo's expansion and growth in the self-driving car industry are paving the way for a more efficient and convenient transportation system. As the company continues to innovate and expand its services, it is important for investors to keep an eye on Alphabet's investment in Waymo and the potential impact on the financial market. For consumers, this means more options for reliable and safe transportation in the near future.