Key Points
Waymo, a subsidiary of Alphabet (NASDAQ: GOOG, GOOGL), is positioned as a leader in autonomous vehicle technology. The stock saw an increase of over 2% following the announcement of a U.S. House of Representatives subcommittee hearing scheduled for January 13, where proposals to accelerate the deployment of self-driving vehicles will be discussed.
The hearing will consider measures such as allowing up to 90,000 autonomous vehicles per year on U.S. roads and limiting states’ authority to regulate self-driving systems. Transportation Secretary Sean Duffy highlighted the need for a more relaxed regulatory environment to maintain competitiveness against emerging automotive markets, particularly China.
Waymo’s autonomous vehicles are becoming increasingly common in cities, with developments indicating significant support for the technology at high levels of government.
