Alphabet’s (GOOGL) self-driving unit Waymo is recalling about 1,200 autonomous vehicles over school bus safety incidents. This comes as the company celebrates crossing 450,000 weekly paid rides and expanding into new cities, according to CNBC.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Recall After School Bus Incidents
Waymo announced a voluntary software recall following reports in Texas of its self-driving cars passing stopped school buses with flashing red lights and extended stop arms. It is worth noting that the National Highway Traffic Safety Administration (NHTSA) had opened an investigation in October after at least 19 incidents were cited by the Austin Independent School District.
Waymo’s Chief Safety Officer Mauricio Pena acknowledged the issue, saying the recall will address problems with “appropriately slowing and stopping” near school buses.
“Holding the highest safety standards means recognizing when our behavior should be better,” Pena noted.
Waymo Crosses 450K Weekly Rides
Despite the recall, Waymo achieved a major milestone after its autonomous ride-hailing service surpassed 450,000 weekly paid rides across its operating markets. This milestone points to growing consumer adoption of robotaxis, particularly in San Francisco and Phoenix, where Waymo has been steadily expanding service zones.
These developments occur as Waymo widens its lead in the autonomous ride-hailing sector, which includes other players such as Tesla (TSLA) and Amazon’s (AMZN) Zoox.
What Is the Target Price for Google Stock?
On TipRanks, GOOGL stock has received a Strong Buy consensus rating, with 29 Buys and seven Holds assigned in the last three months. The average Alphabet stock price target is $320.15, suggesting an upside potential of 2.42% from the current level.
