Waymo Targets 1 Million Robotaxi Rides A Week

Core Insights - Waymo, Alphabet Inc.'s self-driving tech unit, aims to quadruple its ride service, targeting at least 1 million paid robotaxi rides within the next year as it expands into new U.S. cities and begins operations in the U.K. and Japan [1] Current Operations - Waymo currently operates in several cities, booking over 1 million rides weekly in locations such as Phoenix, Los Angeles, San Francisco, Austin, Atlanta, and Miami, with plans to expand to over 20 additional cities by 2026, including international markets like Tokyo and London [2] - The company estimates it generates at least $20 per ride, leading to a monthly revenue exceeding $20 million, which could annualize to about $1 billion at the target of 1 million rides per week [2] Fleet Expansion - To accommodate the anticipated increase in ride volume, Waymo plans to expand its fleet from over 2,500 vehicles to at least 10,000 vehicles within the next year, incorporating electric Hyundai Ioniq 5 hatchbacks and Zeekr RT microvans alongside its current Jaguar I-Pace SUVs [2] Safety Concerns - Despite the popularity of its service, Waymo faces challenges regarding safety, highlighted by incidents involving the deaths of a cat and a dog in San Francisco, raising questions about the adequacy of its safety measures [4] - The company recently announced a fleetwide recall to upgrade software after reports of its robotaxis failing to stop for parked school buses, emphasizing its commitment to maintaining high safety standards [5] Competitive Landscape - Waymo's safety record is reportedly better than that of competitors like General Motors' Cruise unit and Tesla, which are facing significant safety and legal challenges [6] - Critics express concerns that Waymo may be expanding too rapidly, potentially in anticipation of an initial public offering (IPO) [7] Industry Perspective - Experts question the effectiveness of Waymo's technology, suggesting that despite extensive operational experience, the company still struggles with predictable driving scenarios, raising concerns about its expansion strategy [8]