Waymo, the Alphabet subsidiary specializing in autonomous driving, has consolidated its position as the undisputed leader in the robotaxi sector in the United States. After Cruise's abrupt withdrawal from the market due to safety and public relations issues, Waymo remains the only major company with significant operations in multiple US cities.
With an active fleet of 1,500 vehicles spread across San Francisco, Phoenix, Los Angeles, and Austin, Waymo is making history. And it's going for more: it has already announced the acquisition of 2,000 new autonomous cars, with its sights set on new cities.
This deployment is impressive. It has achieved what for years was only a technological promise: driverless taxis that travel on real streets, with real passengers, and getting paid for it. In San Francisco, for example, this company already accounts for 27% of on-demand rides, behind only Uber (with 50%). It provides thousands of paid rides each week, and it's not uncommon for visitors to the city to include a ride in one of these vehicles as part of their tourist experience.
Waymo has demonstrated unquestionable technological excellence. Users frequently highlight the smoothness of the ride, the absence of harsh braking or acceleration, and the good condition of the vehicles. Furthermore, the company boasts about a very solid safety record, something that not all self-driving initiatives that have attempted to enter the market can claim.
But this technological leadership doesn't automatically translate into profitability. And therein lies the main problem: Waymo continues to lose money, and a lot of it. In the first quarter of 2025, the company reported $1.2 billion in losses, a worrying figure for a unit that, in theory, should be beginning to consolidate its business.
The reason is relatively simple to understand: each self-driving car costs around $100,000, including sensors, software, and specialized hardware. And although these vehicles work long hours a day and make revenue-generating trips, the price of each ride is in line with competitors like Uber or Lyft, which don't have the same fixed or maintenance costs.
For the business to work, three things would be needed:
. More cars in operation (to recoup the investment more quickly).
. Reduction in vehicle costs.
. Reduction in maintenance and operating costs.
Waymo seems to have this diagnosis clear. Alphabet recently signed an agreement with a Chinese electric car manufacturer, with the aim of launching a new, more economical and efficient robotaxi model. However, these vehicles are not yet on the road, and there is no clear date for their deployment.
Waymo is in an enviable position, but also vulnerable. Being a pioneer in a completely new market has advantages: recognition, experience, and positioning. But it also means assuming all the costs of development, regulation, user education, and building the technical and social infrastructure necessary for the business to function.
Today, Waymo is alone at the top in the US (not the world), but that could change quickly. A new competitor—for example, a Chinese startup with access to cheaper hardware and agile technology—could emerge in the short term. And, as has happened in other tech industries, early leadership doesn't guarantee survival.
Waymo has certain advantages: its years of experience, its reputation for safety, and the massive data network it has built. But all of this must soon translate into a sustainable model, because Alphabet, giant as it is, can't continue absorbing billions of dollars in losses indefinitely.
The Waymo case is fascinating because it symbolizes both the success and the limits of technological innovation. On the one hand, they've achieved it: self-driving cars that comply with regulations, transport people without serious accidents, and offer a comfortable and futuristic experience. On the other hand, they still haven't proven that this can be transformed into a profitable business.
Perhaps in a few years, we'll look back and see this company as the pioneer that paved the way for a new standard of urban mobility. Or perhaps it will be yet another case of great innovation that arrived too soon and was overtaken by a cheaper, simpler solution.
What is clear is that creating a new market from scratch is no easy task, not even when you have the backing of one of the most powerful companies in the world. The future of autonomous taxis is at stake, and although Waymo leads today, its continued presence is far from assured.
But we must recognize its merits.
EN 
ES