Amazon’s autonomous vehicle company, Zoox, plans to launch its self-driving car service in Austin and Miami later this year while expanding its service area in San Francisco and Las Vegas. However, Zoox currently lacks regulatory approval to charge for rides, putting it at a disadvantage compared to rivals like Waymo, which reported $350 million in annual recurring revenue and plans to expand to 10 new U.S. cities.
Since its launch in Las Vegas, Zoox has logged nearly 2 million autonomous miles and carried over 350,000 riders, with a waitlist exceeding 500,000 people. The company is awaiting a decision from the National Highway Traffic Safety Administration regarding the ability to operate up to 2,500 of its vehicles commercially, which could come as soon as April.
As the autonomous vehicle market is projected to generate $7 billion in annual sales by 2030, Zoox’s expansion into new markets indicates its commitment to scaling its operations. However, it must quickly prove its ability to generate revenue amid stiff competition in the sector.
