After getting a hefty $5.6 billion in fresh capital last week, Alphabet’s autonomous driving unit Waymo is now reported to be valued at more than $45 billion.
Automotive News reported that the latest round of financing led by Google-owned Alphabet included outside investors. Alongside an expanded partnership with Uber, the influx of cash will help the company expand its Waymo-One robotaxi service in San Francisco, Los Angeles, Phoenix, and beyond, delivering more than 150,000 paid trips each week.
Waymo has come to symbolize progress in the self-driving space, after years of setbacks with the technology and a host of PR problems. For one, earlier this year, a Waymo robotaxi hit a cyclist in San Francisco – luckily that cyclist had only minor injuries.
Still, a big part of its success has been the financial backing of its parent company Alphabet. Wamyo is part…
Read the full article originally published at electrek.co.