Robotaxi Market Heats Up As Amazon Unit Braces For Debut

  • Inc AMZN self-driving technology firm Zoox braced to launch its robotaxi business, Reuters reports.
  • Zoox self-certified that the robotaxis came without pedals or steering wheel, met US federal regulations, and applied for a permit in California to test-drive it.
  • Zoox's vehicle, called VH6, has room for four passengers, with two facing each other, resembling General Motors Co's GM Cruise's Origin vehicle, launched in January 2020.
  • Also Read: Baidu Aims To Expand Robotaxi Service By 2025; Looks To Become Profitable In 3 Years
  • Cruise beat Alphabet Inc GOOG GOOGL Google by offering free rides in its fully autonomous vehicles in February. Cruise also bagged approval for monetizing the rides in early June.
  • Zoox built the VH6 in its "Kato" factory in Fremont, California, a city where Tesla Inc TSLA also makes its cars.
  • Zoox's co-founder and CTO Jesse Levinson said the factory had produced dozens of VH6s, and the current location can produce tens of thousands of vehicles.
  • Levinson acknowledged that the current economic slowdown had not affected the company, and Zoox will increase its employee number to 2,000 this year from 1,400 at the start of the year.
  • "We can compete with, for example, Uber and Lyft and make money and be very cost competitive even in the early days of this technology," he said.
  • Price Action: AMZN shares traded lower by 0.01% at $118.20 in the premarket on the last check Wednesday.
  • Photo via Company
Posted In: NewsTop StoriesTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!