Uber says that it is not worried about Waymo cutting into its business because the self-driving taxi startup is driving a massive expansion in all app taxi use, not just driverless.
During Uber’s last quarterly earnings call, the company told shareholders that the company is still positioned to dominate the market even though Waymo has become the household name of autonomous taxis in the U.S.
The tech-giant’s presentation to shareholders was revealing, however, for those who are looking to understand how a company like Waymo would affect New York City.
“Our network benefits from every incremental unit of supply added in a city. As supply increases, customers find more value because rides become more affordable with faster ETAs,” the Uber-penned docs read. “This fact alone gives us considerable conviction that AVs (as a new form of supply) will expand — not shrink — our total addressable market.”
Between Uber and its competitor Lyft, there are around 80,000 licensed app-based taxis currently in New York City. It’s clear from Uber’s investor materials that the company sees autonomous taxis entering the market as a chance to expand its footprint.
In other words, Waymo means way mo’ cars.
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