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Waymo plans to expand its self-driving car fleet to 20,000 vehicles by the end of next year, utilizing $5 billion in recently borrowed debt. The company currently operates 4,000 cars and aims to reach 8,000 by year-end, according to people familiar with the matter.
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Summary by ByteBrief
Waymo Raises $5B to Expand Fleet
Sources: Waymo increased the size of its inaugural debt raise from $3B+ to $5B, as it grapples with rising AI costs and rapidly expands its robotaxi fleet (Bloomberg)
Waymo plans to launch its robotaxis in Toronto in 2028 in partnership with Element Fleet Management, the company's first deployment in Canada (Prathik Jayaprakash/Reuters)