Robo-taxis could be big money-spinners, but their payday is a long way off, writes AntonyMCurrie.
Waymo, Alphabet’s autonomous-vehicles unit, on March 2 said it has raised almost $2.3 billion from outside investors. The funding round was led by Silver Lake, Canada Pension Plan Investment Board and Mubadala Investment Company. Magna International, Andreessen Horowitz, AutoNation and Alphabet also took part.
Dan Ammann, chief executive of General Motors’ autonomous-vehicles unit Cruise, said on Feb. 5 that robo-taxis have the potential to create a $1 trillion market in the United States, $5 trillion globally, increasing to as much as $8 trillion including goods delivery.
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