Alphabet Inc's (GOOGL) Waymo Is Pushing Ahead With Driverless Car Initiative

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GOOGL – Waymo has reportedly applied for newly-available permits in California.

For Alphabet Inc’s (NASDAQ:GOOGL) Waymo, all eyes remain glued to a future in which autonomous vehicles are the norm as opposed to a novelty. Until that future becomes a reality, the company continues to press ahead with another step forward in the state of California.   

Techcrunch has the details on the Google-owned company’s latest step.

Waymo has become the second company to apply for the newly-available permit to deploy autonomous vehicles without safety drivers on some California roads, the San Francisco Chronicle reports. It would be putting its cars — well, minivans — on streets around Mountain View, where it already has an abundance of data.

The company already has driverless driverless cars in play over in Phoenix, as it showed in a few promotional videos last month. So this isn’t the first public demonstration of its confidence.

The state just started offering the permits on April 2, and one other unnamed company has also signed up. If Waymo is approved for the permits, it appears that they will be limited to the Mountain View area only.

While the permit allows for vehicles that don’t include traditional manual controls, Waymo is said to be sticking with its modified Chrysler Pacificas for permitting purposes.

Alphabet Inc Class A shares rose $6.46 (+0.62%) in premarket trading Monday. Year-to-date, GOOGL has declined -1.18%, versus a 0.40% rise in the benchmark S&P 500 index during the same period.

GOOGL currently has a POWR Rating of C (Neutral), and is ranked #19 of 50 stocks in the Internet category.

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