Alphabet creates Waymo to further develop self-driving car technology

San Francisco

GOOGLE parent company Alphabet Inc is separating its self-driving car project into a new business called Waymo, seeking to sharpen its focus on changing the transportation industry.

John Krafcik, chief executive officer of Waymo, announced the move on Tuesday at an event in San Francisco. The company has been developing autonomous vehicle technology for more than six years, as part of its X research lab. Waymo is emerging from this research phase as a standalone business owned by the California-based Alphabet.