Waymo to Expand Autonomous Fleet to 20,000 Vehicles
Waymo plans to quintuple its self-driving fleet to 20,000 cars by 2027 using a $5 billion loan for domestic and international expansion.
Waymo, the autonomous driving unit of Alphabet, plans to expand its vehicle fleet from 4,000 to 20,000 cars by the end of 2027. The company set an interim target to reach 8,000 vehicles by the end of this year.
This growth is supported by a $5 billion loan secured earlier this month from lenders including PIMCO, Blackstone, and Sixth Street. The funding will facilitate the expansion of services across the United States and into international markets, including Canada, London, Tokyo, and Singapore.
Waymo currently operates in 15 U.S. cities. The fleet expansion follows a recent $16 billion equity raise that valued the company at $126 billion.
