Uber Technologies, Inc. UBER stock is trading lower on Thursday following a report suggesting that Alphabet Inc. GOOGL – owned Waymo will launch in Miami in 2026. Here’s what you need to know.
What To Know: Waymo announced plans to debut in Miami in 2025 with human safety drivers and begin offering rides via the Waymo app in 2026, according to CNBC.
Alphabet originally tested Waymo in Miami in 2019 and plans to use what it learned upon its return to Miami. Specifically, the company, “deepened our learning and understanding of the Waymo Driver’s performance in adverse weather conditions,” a company spokesperson told CNBC.
In recent years, Waymo has experienced growth and has plans for further expansion. The company recently removed the waitlist for Los Angeles users, allowing broader access to the app, and secured approximately $5.6 billion in funding to support the expansion of its self-driving service.
Uber may be trading lower following Waymo’s expansion into Miami, as the growth of autonomous driving fleets could reduce the demand for human-operated ride services. This shift is typically seen as a potential threat to Uber’s business model, as companies like Waymo are already offering autonomous ride-hailing services, and others, such as Tesla, could eventually enter the market with their own self-driving fleets.
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UBER Price Action: At the time of publication, Uber shares are trading 8.17% lower at $66.31, according to data from Benzinga Pro.
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