Home / Technology / Waymo Borrows $5B for Massive Self-Driving Fleet Expansion
Waymo Borrows $5B for Massive Self-Driving Fleet Expansion
20 Oct
Summary
- Waymo borrowed $5 billion for fleet expansion.
- Fleet to grow to 20,000 vehicles by end of next year.
- Waymo is expanding services to Toronto and other global locations.
Waymo is poised for a major expansion, having recently secured $5 billion in debt financing. This significant capital infusion is earmarked for a substantial increase in its autonomous vehicle fleet.
The company plans to grow its current fleet of 4,000 cars to 8,000 by the close of 2026. Looking further ahead, Waymo aims to reach a total of 20,000 vehicles by the end of 2027, according to sources close to the matter.
This expansion strategy extends beyond the US, with Waymo actively working to grow its services internationally, including new operations in Toronto. The company has also been observed rebranding vehicles from Zeekr, a unit of Geely Holding Group, and has reportedly ordered thousands of cars from China to facilitate this growth.
