Waymo Expands to 10 Cities, Accelerating Autonomous Ride-Hailing Service
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 9 hours ago
0mins
Should l Buy GOOGL?
Source: Benzinga
- Expansion of Service Cities: Waymo announced on February 25 that it is rolling out its autonomous ride-hailing service in four new cities—Dallas, San Antonio, Houston, and Orlando—bringing its total operational cities to 10, indicating rapid expansion in the global robotaxi race.
- Increase in Passenger Services: Co-CEO Tekedra Mawakana stated that Waymo is on track to serve over one million rides per week by the end of this year, a significant increase from the previous 450,000 rides per week, reflecting strong market demand and operational growth.
- Safety Investigation: Despite its growth, Waymo faces scrutiny from regulators due to multiple incidents involving its autonomous vehicles, including a crash with parked cars in California and a collision with a child in a school zone, leading NHTSA to investigate over 3,000 Waymo autonomous vehicles.
- Industry Competition Analysis: Compared to Tesla's robotaxi efforts, Waymo's rides are fully autonomous, while only two of Tesla's 15 robotaxis operate without a safety driver, highlighting Waymo's technological edge in fully autonomous driving capabilities.
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Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise
33 Analyst Rating
26 Buy
7 Hold
0 Sell
Strong Buy
Current: 307.380
Low
305.00
Averages
374.25
High
400.00
Current: 307.380
Low
305.00
Averages
374.25
High
400.00
About GOOGL
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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