Via and Waymo partner to integrate autonomous vehicles into public transit

NEW YORK - Transit technology provider Via (currently valued at $4 billion market cap with $380.77 million in trailing twelve-month revenue) and autonomous driving company Waymo announced a partnership Thursday to integrate Waymo’s self-driving ride-hailing service into government transit networks using Via’s software platform. According to InvestingPro analysis, Via maintains strong liquidity with a current ratio of 2.1, though the company is not yet profitable.

Chandler, Arizona will be the first city to implement this framework this fall, incorporating Waymo vehicles into its Chandler Flex microtransit service, which has provided nearly 120,000 rides to residents. InvestingPro subscribers can access additional insights about Via’s valuation metrics and growth potential, with multiple exclusive ProTips available for informed investment decisions.

The integration will allow Chandler Flex users to receive rides in Waymo’s autonomous vehicles. Via’s algorithms will incorporate these vehicles into the existing fleet, matching appropriate vehicles to each trip based on passenger requirements. Despite operating with moderate debt levels, Via’s financial health score from InvestingPro indicates fair overall performance.

"Chandler has always been a hub for innovation, and we’re proud to be the first city to bring Waymo’s AVs into our public transit network," said Chandler Mayor Kevin Hartke.

Waymo currently serves hundreds of thousands of paid trips weekly across five cities. The company reports its autonomous vehicles have been involved in 88% fewer injury-causing crashes compared to human drivers.

Via’s technology powers transit systems for hundreds of cities in more than 30 countries. Its software enables governments to design and operate transit networks by leveraging transit-specific data.

The partnership creates a framework that other cities can adopt to introduce autonomous vehicles into their public transportation systems.

According to a press release statement, Via’s operating software will enable Chandler to monitor service performance and meet federal funding, compliance, and accessibility reporting requirements.

In other recent news, Via Transportation has announced the pricing of its initial public offering at $46 per share. The company is offering 7,142,857 shares of Class A common stock, with additional shares being offered by selling stockholders. This marks a significant step as the shares are set to begin trading on the New York Stock Exchange. In another development, a U.S. District Court has awarded Via a 10% ongoing royalty on RideCo’s U.S. sales. This is related to RideCo’s products that allegedly infringe on Via’s patents concerning on-demand microtransit services. The court ruling also includes supplemental damages for pretrial infringement of Via’s virtual bus stop patents. These recent developments highlight key financial and legal milestones for Via Transportation.

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