Alphabet Gives Robotaxi Unit Waymo a $5 Billion Boost as Competitors Tesla and GM Delay Their Projects

Google's parent company, Alphabet, announced it will invest an additional $5 billion in Waymo, its self-driving car unit.

Transcript

00:00It's Benzinga, and here's what's on the block.

00:02Google's parent company, Alphabet, announced it will invest an additional $5 billion in

00:06Waymo, its self-driving car unit.

00:09CFO Ruth Perot announced this multi-year investment on the company's second quarter earnings call.

00:14Waymo provides around 50,000 paid rides per week in San Francisco and Phoenix, and has

00:19completed over 2 million trips in total.

00:21Alphabet is boosting its investment in Waymo as competitors General Motors, Cruze, and

00:26Tesla delay their autonomous vehicle projects.

00:28For all things money, visit Benzinga.com.