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At the end of last year, Waymo One was launched as an autonomous car service in Phoenix after nine years of development. The Alphabet division still has a long rollout ahead, but it can begin to recover R & D costs. A new report released today explains in detail how Waymo is looking for outside investors.
according to L & # 39; informationWaymo is in talks to mobilize external capital to limit Alphabet spending. This figure is currently estimated at $ 1 billion a year, according to the report released today. In recent years, financial tightening has been a recurring theme at the parent company.
In February, Waymo reportedly had talks with the Renault-Nissan Alliance on an autonomous partnership. Today's article reports discussions with Volkswagen and other European manufacturers for external financing, which should not exceed 20%.
In addition to reducing the costs of Alphabet, an investment would give Waymo a new valuation reflecting a lead over the autonomous driving space. General Motor's cruise – generally the second largest in terms of autonomous metrics – is valued at $ 15 billion, with Waymo hoping for a "at least several times" figure that, according to L & # 39; information. By comparison, Tesla's market capitalization is currently $ 50.25 billion, while GM itself is at $ 54.43 billion.
In the near future, Waymo needs to expand its fleet before it can transfer its autonomous competitor, the Lyft / Uber, to other parts of the country. She ordered thousands of electric minivans last January, bringing the number to 62,000 in May. He also announced plans for a Michigan plant to upgrade Chrysler and Jaguar I-Pace vehicles with stand-alone components.
In the meantime, monetization, beyond consumer services, includes a stand-alone truck for commercial transportation, a partnership with companies for passenger transportation, and a last-mile solution for public transit. Waymo has also considered selling Fiat Chrysler self-driving technologies in vehicles that consumers can buy, while Uber has expressed interest in adding autonomous cars to its network.
Just last week, Waymo announced that it would sell customized LIDAR to robotic and security customers located outside of the audiovisual space. This helps reduce sensor manufacturing costs, helping cars to "see" the world.
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