Toyota and Waymo Partner to Bring Self-Driving to Personal Vehicles

Toyota Motor Corp (TYO: 7203) and Alphabet Inc’s (Nasdaq: GOOG) Waymo have reached a preliminary agreement to collaborate on developing and deploying autonomous driving technology, the companies announced on Tuesday.

The partnership aims to combine Waymo’s autonomous driving expertise with Toyota’s vehicle design capabilities to create a new autonomous vehicle platform, while enhancing safety features for Toyota’s personally owned vehicles.

“Toyota is committed to realizing a society with zero traffic accidents and becoming a mobility company that delivers mobility for all,” said Hiroki Nakajima, Member of the Board and Executive Vice President of Toyota Motor Corporation.

Waymo, which currently operates ride-hailing services in San Francisco Bay Area, Los Angeles, Phoenix, and Austin, reports serving more than a quarter of a million trips weekly. The company claims its safety record shows lower injury-causing crashes compared to human drivers.

Read: Waymo Expands Robotaxi Service to Silicon Valley Communities

Under the agreement, Waymo will begin incorporating its technology into Toyota’s personally owned vehicles. Meanwhile, Toyota will contribute its expertise in advanced software, mobility innovation, and its Toyota Safety Sense (TSS) technologies.

“Waymo’s mission is to be the world’s most trusted driver,” said Tekedra Mawakana, co-CEO at Waymo. “We look forward to exploring this strategic partnership, incorporating their vehicles into our ride-hailing fleet and bringing the magic of Waymo’s autonomous driving technology to Toyota customers.”

The scope of the collaboration will continue to evolve through ongoing discussions, according to the companies. Financial terms were not disclosed.

Meanwhile, Tesla (Nasdaq: TSLA), which long promised to be a pioneer in autonomous vehicle technology, has faced increasing scrutiny over its Full Self-Driving (FSD) package. Despite years of promises that fully autonomous capabilities were just months away, Tesla recently acknowledged during an earnings call that it needs to replace the self-driving computers in cars equipped with its FSD package.

Related: Tesla Secures First California Permit on Path to Robotaxi Service 


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Elon Musk’s xAI Has Been Poaching Engineers from Tesla, Board of Directors Keep Mum As Usual

Elon Musk’s recently launched artificial intelligence company xAI has been actively recruiting engineers and scientists...

Thursday, April 4, 2024, 02:15:00 PM

Tesla Posts Q3 Vehicle Deliveries Of 462,890, Falls Short Of Analyst Estimates

Tesla (NASDAQ: TSLA) this morning reported its third quarter production and delivery results, with the...

Wednesday, October 2, 2024, 09:14:15 AM

Tesla: Buttigieg Says Autopilot’s Name Has A ‘Common Sense’ Problem

When US Transportation Secretary Pete Buttigieg talked about Tesla (Nasdaq: TSLA) on Monday, he just...

Wednesday, March 15, 2023, 07:54:49 AM

Tesla Subpoenaed By SEC Related To Go Private Settlement Agreement

Tesla (NASDAQ: TSLA) continues to be in hot water as a result of the actions...

Monday, February 7, 2022, 08:55:20 AM

Morgan Stanley: Apple’s EV Market Entrance Puts Tesla in Bearish Territory

Shortly after Elon Musk frantically turned to Twitter to reveal to the world that Apple...

Monday, December 28, 2020, 03:56:00 PM