Shares in Via Transportation (VIA) reversed today despite sealing a deal with Google (GOOGL)-backed autonomous vehicle (AV) driving group Waymo to bring its tech to ‘the people.’
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Public Service
Via, which provides technology for government transit systems, said the strategic partnership would allow government agencies to bring in Waymo’s ride-hailing service into their public transport networks.
Chandler, Arizona will be the first city to benefit from this framework, integrating Waymo’s service into the city’s Flex microtransit service from this fall.
At the moment, users book rides on the Chandler Flex app to be picked up by a shared vehicle and taken to their destination. Now, they may be matched with Waymo’s fully autonomous vehicles as part of the service.
Chandler Flex leverages Via’s proprietary algorithms, designed to ‘efficiently and dynamically aggregate multiple riders into a single vehicle.’
Via’s routing technology will incorporate Waymo’s vehicles into its existing fleet, using Via’s Scheduling Engine to understand passengers’ travel requirements and ensure that the right vehicle is matched to every trip.
“Public transit riders and the government agencies who serve them are too often the last to have access to cutting-edge technology,” said Daniel Ramot, Via’s co-founder and CEO. “We’re delighted that this partnership with Waymo paves the path for AVs to become accessible to millions of global public transit riders, enhancing mobility, lowering operating costs, and improving safety outcomes.”
AV Growth
It is a further sign of Waymo’s continued forward momentum. Last month, it obtained the regulatory nod to test its vehicles in New York City. Already, the company has launched its services in U.S. cities such as Austin, Atlanta, and Phoenix. It also plans to penetrate cities such as Miami, Washington D.C., and Philadelphia.
Earlier this week, it also announced a teaming up with ride-hailing company Lyft (LYFT) to extend its driverless robotaxis to Nashville.
It comes as the AV road gets ever more congested. EV giant Tesla (TSLA) kicked off its robotaxi self-driving service earlier in June in Austin, Texas, and has now reportedly received permission to begin testing in Nevada. It is a vital part of the company’s growing ecosystem – see below:
According to Vantage Market Research, the Global AV market is projected to surge from $72.64 billion in 2024 to $658.1 billion by 2035.
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