Waymo Plans to Quintuple Fleet to 20,000, Semafor Reports

3-line summary

• Alphabet's self-driving unit Waymo plans to expand its fleet from about 4,000 vehicles currently to 8,000 by the end of 2026 and to 20,000 by the end of 2027, a roughly fivefold increase, Semafor reported citing sources; Waymo did not immediately respond to Reuters' request for comment.
• Waymo secured a $5 billion loan this month with participation from PIMCO, Blackstone, and Sixth Street to fund fleet expansion and service growth in the US and abroad, following a $16 billion equity round completed earlier this year that valued the company at $126 billion.
• Waymo currently operates in 15 US cities and has announced service launches in London, Tokyo, Singapore, and Canada.

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