So Long, Google: Driverless Cars Will Be Its Own Unit Of Alphabet

Alphabet Inc GOOGL is planning to ramp up on the development of its self-driving cars unit in 2016. Google is expected to offer a stand-alone business for the self-driving cars under the Alphabet Inc. corporate umbrella for next year.

Automotive consumers have been particularly reliant on the company to deliver what traditional auto companies cannot to the market.

Google's autonomous vehicles made headway on public roads, mainly near San Francisco and Austin. It is likely that these cities will be the first places for the self-driving cars launch. The fleets are expected to range of small to large vehicles and may be found in confined locations, such as corporate office parks and college campuses.

Innovation is beginning to reap in its rewards from its automotive technology advancements. IBM forecasted that consumers are turning to different modes of transportation, but continue to include personally owned vehicles.

Self-driving vehicle fleet development is only getting hotter.Last February, Bloomberg reported that Google was developing a rival to Uber, most likely in conjunction with its driverless-car project. Uber is also pursuing its own autonomous developments.

Shares of Alphabet traded 0.88 percent higher on Wednesday, with shares reaching $766.77. Alphabet has a 52-week low of $490.91 and a 52-week high of $793.05.