Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Waymo is reportedly in talks with South Korean automaker Hyundai Motor for contract manufacturing its robotaxis.
What Happened: Waymo officials have met with Hyundai Motor officials over three times at the former's headquarters in the U.S., South Korean newspaper Electronic Times reported, citing sources. The robotaxi company is reportedly looking to procure Hyundai vehicles to operate as robotaxis.
Waymo is considering using Hyundai's Ioniq 5 instead of Geely brand Zeekr's electric vehicles as previously planned for its 6th-gen self-driving technology owing to the increased tariffs on EV imports from China, the report added.
The robotaxi company currently deploys its tech on vehicles including the Jaguar i-Pace and the Chrysler Pacifica hybrid to operate them as robotaxis.
Waymo, Hyundai, and Zeekr did not immediately respond to Benzinga's request for comment.
Why It Matters: In July, Alphabet committed to a new multiyear investment of $5 billion into Waymo to help the company "continue to build the world's leading autonomous driving technology company."
Waymo is delivering well over 50,000 paid trips per week to customers, Alphabet CEO Sundar Pichai then said.
Automotive research firm S&P Global Mobility said earlier this week that it deems Waymo to be the frontrunner in the field of autonomous vehicles in the U.S. The firm expects sales of autonomous light vehicles in the U.S. to reach about 230,000 units in 2034.
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