Don’t miss the full story, whose reporting from Michael Liedtke at The Associated Press is the basis of this artificial intelligence-assisted article.
Robotaxi pioneer Waymo has raised $16 billion in new funding at a $126 billion valuation as it expands its self-driving car service globally while facing competition from Tesla and Amazon-backed rivals.
Some key facts:
• Waymo raised $16 billion in new funding, with the round led by corporate parent Alphabet Inc.
• The company is now valued at $126 billion, a significant increase from approximately $30 billion just five years ago.
• Waymo started as a “moonshot” project within Google 17 years ago.
• The company currently operates robotaxis in six metropolitan areas across California, Arizona, Georgia, Texas and Florida.
• Waymo’s robotaxis currently provide more than 400,000 weekly rides.
• The company plans to expand to more than 20 additional cities, including London and Tokyo.
• Waymo faces growing competition from Amazon-backed Zoox and Tesla’s planned robotaxi network.
• The company has faced some safety incidents, including killing a 9-year-old cat in San Francisco, and regulatory investigations regarding operations near school buses in Austin, Texas.
READ MORE: Robotaxi pioneer Waymo gets $16 billion injection to accelerate its expansion plans
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