Waymo plans to grow its robotaxi fleet from about 4,000 vehicles now to 8,000 by the end of 2026 and 20,000 by the end of 2027, using a recently raised $5 billion loan to help pay for the growth, Semafor reported, citing people familiar with the plans.
The targets would mean the fleet grows fivefold in roughly two years. Waymo is owned by Alphabet. The company is working to expand its driverless ride-hailing service in the United States and abroad.
Waymo did not confirm the figures to Semafor. Semafor reported that the company declined to comment on the specific targets. Waymo has said the loan will support expansion in the United States and internationally.
Waymo announced on October 8 that it had finalized a $5 billion loan with a set repayment period, its first debt financing. PIMCO, Blackstone and Sixth Street were among the main lenders. Waymo said the funding would give it more options for managing its finances as its business operations grow.
Semafor reported that Alphabet did not guarantee the loan. Semafor also reported that the agreement could let Waymo raise more money using its fleet lease agreements as backing. Semafor reported that Waymo currently operates in 15 U.S. cities.
It also reported that Waymo is bringing its service to more places, including Toronto. The reported fleet milestones are plans, not a confirmed schedule for vehicle deliveries. Waymo has not publicly verified the numbers.