Alphabet, Google's parent company, announced it is investing $5 billion in Waymo, a self-driving car unit.
In the company's second-quarter earnings call, Alphabet said its investment would allow Waymo to "continue building the world's leading autonomous driving company," noting that the unit serves as an "important example" of Alphabet's long-standing investments.
The $5 billion investment is expected to be made over several years, Business Insider reported, citing Alphabet CEO Sundar Pichai.
The investment comes after TechCrunch last week reported that Waymo is ramping up efforts to gain access to use its robotaxis for pickups and drop-offs at the San Francisco International Airport, citing emails and documents it obtained through a Freedom of Information Act request.
Waymo currently has permits to operate its robotaxi service in the city of San Francisco. However, access to the airport requires separate licenses and approval from the San Francisco Airport Commission.
"We have experience offering service in San Francisco and operating at Sky Harbor Airport in Phoenix," Waymo Chief Product Officer Saswat Panigrahi wrote in an email to San Francisco Airport General Manager Ivar Satero, as reported by TechCrunch.
"Waymo riders in the Bay Area consistently ask Waymo to provide service to SFO. We would like to partner with airport leaders and staff to work towards that future goal. Please let us know what your availability is to connect and we will plan accordingly. Thank you for your time and consideration."
The company previously attempted to gain permits to map the airport but the effort was unsuccessful.
Waymo's History
In 2009, Alphabet launched its self-driving car project in the same year. At the time, the company aimed to have its line of Toyota Prius vehicles drive autonomously over ten uninterrupted 100-mile routes.
In 2015, Alphabet successfully had the "world's first fully self-driving ride on public roads in Austin, Texas," per Waymo's website. Waymo was established a year later as a self-driving technology company.
In 2020, Waymo launched the Waymo One service in the Metro Phoenix area that allowed commuters to hail a fully autonomous ride. Since then, it has expanded to San Francisco, Los Angeles, and Austin.
In the recent earnings call. Pichai noted that Waymo is now making roughly 50,000 weekly paid public rides, primarily in the San Francisco and Phoenix areas.
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