Google Stock Boosted as Waymo Prepares for Southeast Asian Expansion
Google's stock (GOOGL) has seen a significant increase of over 2% in premarket trading on September 18. This surge can be attributed to several factors, including Waymo's plans to start accepting bookings for rides in Singapore by 2028.
The expansion into Southeast Asia marks the first entry of Waymo, Google's self-driving unit, into this region. The company will use electric Jaguar I-PACE SUVs for its initial fleet and spend 2027 mapping local roads and testing its technology in various driving conditions, including monsoon weather.
Waymo's move into Singapore is part of its strategy to expand its self-driving business outside the US. This expansion could provide Waymo with access to a new market, add a new source of ride-hailing revenue, and help it gain more driving data for future growth.