Waymo Adds Another Automaker(Up 50%) To Their Robotaxi Fleet Right Before Elon’s Big Day

Alphabet’s Waymo just pulled a fast one, announcing an exciting new partnership with Hyundai to add their Ioniq 5 EV’s to Waymo’s ever-expanding robotaxi fleet. And just like that, Elon Musk’s big Tesla robotaxi event this week suddenly feels a little less groundbreaking. Coincidence? I think not.

For those keeping score, Hyundai’s sales were up 5% last quarter and their stock is up a hefty 50% year-to-date (YTD). As one of the leading EV producers, they’ve now sitting pretty as a top ten automaker in the world. 

As Elon prepares to showcase his shiny Tesla robotaxis, Waymo saw an opportunity to grab the spotlight with their own announcement. The plan is to throw Waymo’s sixth-gen autonomous tech, the Waymo Driver, into Hyundai’s Ioniq 5 EVs and start testing them on the road by 2025. Waymo’s robotaxi fleet already boasts around 700 vehicles cruising around.

These aren’t just some prototype toys, either. These babies will be assembled at Hyundai’s massive new “Metaplant” (yes, that’s really what it’s called) in Georgia, where they’ll crank out a boatload of robotaxis over the next few years.

José Muñoz, Hyundai’s global COO, is clearly hyped about the recent announcement, calling this “just the beginning” of their partnership. I guess that means we can expect to see a whole lot more of Waymo-Hyundai bromance down the line. 

As you know, Elon Musk has been teasing his Tesla robotaxi project for what feels like forever, and he’s finally going to show it off this week. But here’s the thing: While Tesla’s been busy prepping for the grand unveiling, Waymo’s been putting money where their mouth is. 

In fact, they just reached the $5.5 billion mark on their robotaxi dreams. They’ve expanded services to places like San Francisco, Phoenix, and LA, and now they’re giving over 100,000 paid robotaxi rides every week. 

And it’s not just Tesla and Waymo in the robo race. GM’s Cruise is still testing its self-driving cars (despite a little hiccup with an accident), and Amazon’s Zoox is out there trying to reinvent the wheel—literally—with vehicles that have no steering wheels or pedals.

So, why would Hyundai team up with Waymo right before Tesla’s big event? Timing, my friend. This move positions Waymo as the company to beat in the robotaxi game. Tesla might be grabbing the headlines, but Waymo’s got the receipts. Let’s not forget they’ve already partnered with big names like Jaguar and Zeekr, and they’ve got Alphabet’s checkbook to back them up.

Hyundai’s Ioniq 5, which is also being used by other autonomous startups, is a smart addition to Waymo’s mix. It’s electric, sleek, and already being mass-produced. Plus, Hyundai’s had a rough go recently with its own self-driving venture, Motional, so teaming up with a proven player like Waymo is a no-brainer.

With Waymo already running paid rides in major U.S. cities and adding Uber to its platform, they’ve set the bar high for anyone trying to break into the robotaxi world—looking at you, Elon. As of now, Waymo is the only AV company actually making money with this tech, and that’s not a small feat, especially when regulators are breathing down everyone’s neck.

To wrap this up: While Elon’s setting the stage for his robotaxi reveal, Waymo’s already miles ahead—literally. With Hyundai’s sleek EVs, Alphabet’s cash flow, and a proven track record, Waymo’s paving the way to a driverless future. And hey, it’s nice to see someone give Musk a run for his money.

Stocks.News has positions in Tesla, GM, Google, and Amazon.