Waymo Mulls $2.5 Billion Agreement To Procure 50,000 Hyundai Ioniq 5 Robotaxis By 2028: Report

Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) self-driving cab service Waymo is reportedly considering a deal with Hyundai Motor Co. Ltd. (OTC:HYMLF) to add over 50,000 Ioniq 5 EVs to the Waymo fleet.

Waymo could pay over $50,000 per Ioniq 5 unit as part of the deal, Gasgoo reported on Wednesday. The deal would see Waymo add 50,000 Ioniq 5 EVs to its fleet by 2028, retrofitting its AV equipment, including LiDAR sensors, radars and more, which are not part of the reported $2.5 billion figure. The Ioniq 5 features either a 63 kWh or 84 kWh battery and can charge from 10% to 80% in 20 minutes.

Waymo didn’t immediately respond to Benzinga‘s request for comment.

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Waymo has reportedly been in talks with Hyundai since 2024. If the proposed deal goes through, Hyundai would become the third manufacturer to supply vehicles to Waymo after JLR-backed Jaguar and Geely Automobile Holdings Ltd.-backed (OTC:GELYF) (OTC:GELHY) Zeekr, which was collaborating with Waymo on the “Ojai” Robotaxi unveiled last month.

The news comes as Waymo has been under scrutiny by NHTSA following an incident when a Waymo AV collided with a child in Sacramento near a school zone. NHTSA has said that over 3,000 Waymo AVs could be under investigation.

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Waymo’s Chief Safety Officer, Dr. Mauricio Peña, at a Senate Committee of Commerce hearing, also invited further scrutiny after he confirmed that Waymo had hired employees based in the Philippines, who guide its U.S.-based AVs in some situations.

“Big Short” investor Michael Burry has issued a warning following Alphabet’s plans to issue 100-year bonds. “Last time this happened was Motorola in 1997, which was the last year Motorola was considered a big deal,” the investor said. Alphabet is said to have raised $20 billion via bond sales recently.

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