Tesla Robotaxi Rival Waymo Reaches 10 Million Paid Rides Milestone As Self-Driving Cars Step Into The Spotlight

Alphabet Inc.'s GOOGL GOOG Robotaxi Waymo has announced it reached the 10 million paid Robotaxi rides milestone, doubling its lifetime total in a period of 5 months.

What Happened: The company shared a video on the social media platform X to commemorate the achievement on Tuesday.

The 10 million paid rides include major U.S. cities where the company operates its services, like Austin, Los Angeles, Phoenix and San Francisco. Waymo CEO Tekedra Mawakana spoke about the milestone at Google's I/O Developer Conference. "These are all paid trips, and they represent people who are really integrating Waymo Driver into their everyday lives," Mawakana shared.

Why It Matters: The autonomous taxi company announced its expansion into previously untapped areas in California, including San Jose, as Waymo received regulatory approval from the CPUC.

Waymo had also recently shared that the company completed over 250,000 paid robotaxi rides in a week in all of its cities, with the company also announcing a partnership with Toyota Motor Corp. TM, which would focus on making self-driving tech for personal ownership.

Elsewhere, Tesla Inc. TSLA CEO Elon Musk says that the Robotaxi launch in June will see 10 vehicles on the road in the first week. However, it could be ramped up to over 1,000 autonomous driving vehicles a couple of months after June's launch.

Price Action: GOOGL gained 0.47% in Pre-Market trading, currently valued at $164.75, according to Benzinga Pro data.

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