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What will be the impact on Uber and Lyft's market share in Miami by June 2025 due to Waymo's entry?
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Story
Waymo to Launch Miami Robotaxi Service in 2026, Testing Starts 2024
Dec 5, 2024, 05:57 PM
Waymo, the self-driving car unit of Alphabet Inc., has announced plans to expand its robotaxi service to Miami. The company intends to begin testing its driverless Jaguars in the city as early as 2024 with human safety drivers, aiming to offer rides to local users via its Waymo One app by 2026. Prior to this announcement, Waymo conducted two weather-testing trips to Miami to ensure its vehicles can navigate conditions such as "fallen trees, downed power lines, flooding, and power outages" at launch. This expansion marks Waymo's first entry into the southeastern United States and represents a significant step in its growth strategy beyond the West. The company is partnering with African fintech company Moove to manage its fleet operations in Phoenix and Miami. Waymo expects this move to provide a safe and accessible electric vehicle transportation option to Miami riders. The announcement has had an impact on ride-hailing competitors, with Uber and Lyft stocks falling due to concerns over increased competition.
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