Waymo as small project in Google to Leader of self-driving cars by increasing external investment

Waymo founded 11 years ago as a small project inside Google, now widely considered the leader in developing self-driving technology, which expands its external investment around $3 billion.

Google’s development of self-driving technology began on January 17, 2009. Starting in 2010, lawmakers in various states expressed concerns over how to regulate the emerging technology. The automakers hoping to restart their business on May 4 as earlier report.

Waymo received license before it named: Watch to Know More

Nevada passed a law in June 2011 concerning the operation of autonomous cars in Nevada, which went into effect on March 1, 2012. Google’s experimental driverless technology was licensed by the Nevada Department of Motor Vehicles (DMV) in May 2012, and this was the first license issued in the United States for a self-driven car.

Waymo fully driverless car

In 2015, Google provided “the world’s first fully driverless car ride on public roads. It was the first driverless ride that was open and was not accompanied by a test driver or police escort.

Waymo Self-driving cars
Waymo Self-driving cars

Waymo get its name

In December 2016, the unit was renamed Waymo and made into its separate division in Alphabet. The name Waymo derived from its mission, “a new way forward in mobility.” From that day, Waymo was growing a size-able autonomous firm, and on Monday Waymo made its first external investment, it had raised $2.25 billion. The company reveals its self-driving trucking business will be called Waymo Via.

Waymo Chief Executive Officer John Krafcik, in a media briefing late on Monday, declined to confirm whether Alphabet plans to sell or spin-off Waymo, saying it was “certainly a possibility for the future.” Also, a news concerning Waymo and Volvo joining hands for a new project, is yet another mission introduced by the team.

On Tuesday, Waymo raised an additional $750 million in its first external investment round, bringing the total funding to $3 billion. The outside investors will help Waymo be more disciplined, said Alphabet Chief Financial Officer Ruth Porat on Monday. Waymo had entirely funded by Google and its corporate parent, Alphabet.

Stories, You may also like to read...