Waymo aims to double its fleet to 8,000 vehicles and reach 20,000 soon
Waymo plans to expand its autonomous-vehicle fleet from 4,000 to 8,000 by year-end and to 20,000 by the following year, using $5 billion in newly borrowed funds.
Waymo disclosed that it will allocate a recently secured $5 billion loan to dramatically grow its autonomous-vehicle fleet. The company, which currently runs about 4,000 cars, aims to have 8,000 on the road by the close of one outlet year and to expand to 20,000 by the end of the next year. Its operations already span 15 U.S. cities, and it is extending rides to additional markets such as Toronto, San Diego, Tampa and San Antonio.
A partnership with Lyft has led to the opening of a Nashville facility for charging, cleaning and upkeep of the vehicles. Waymo has placed orders for thousands of cars from Chinese suppliers and is rolling out rebranded versions of Zeekr models, a unit of Geely Holding Group. The debt was raised without guarantees from its parent Google, allowing future financing through lease securitization.
Why it matters
The expansion could reshape urban mobility and intensify competition in autonomous-vehicle services.
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