Amazon's driverless electric vehicle is coming

Autonomous vehicle start-up, Zoox, was acquired by Amazon in June 2020.

| More on:
Zoox electric vehicle parked against city scape

Image source: Zoox

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Earlier this year, Amazon.com Inc (NASDAQ: AMZN) purchased Zoox, a six-year old start-up seeking to create autonomous driving vehicles from the ground up. It reportedly paid over $1.2 billion in the deal, making it one of Amazon's largest ever acquisitions.

On Monday, the company revealed the Zoox vehicle and its plans for the fully autonomous electric vehicle. Amazon is planning to compete with Uber Technologies Inc (NYSE: UBER) and Lyft Inc (NASDAQ: LYFT) using the Zoox electric vehicle (EV) as a driverless robotaxi, according to a Bloomberg report.

The EV can carry up to four people, travel in either direction, doesn't contain a steering wheel, and has a maximum speed of 75 miles per hour. Its two battery packs are enough for the vehicle to run up to 16 hours on a single charge. The company plans to launch an app-based ride hailing service in some U.S. cities, including San Francisco and Las Vegas, as well as overseas. 

Zoox chief technology officer Jesse Levinson said the vehicle has passed all safety crash tests, according to the Bloomberg report. It navigates using spinning laser sensors and cameras on each corner of the vehicle, giving it the ability to see a complete field of vision at all times. 

CEO Evans also said the EV "could move packages" at some point, referring to the possibility of creating a fleet of autonomous delivery vehicles, though she said there are no current plans for that. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Howard Smith owns shares of Amazon. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Uber Technologies and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on International Stock News

A young entrepreneur boy catching money at his desk, indicating growth in the ASX share price or dividends
International Stock News

Why this high-flying investor is selling Tesla shares and buying this US tech stock instead

Ark Invest funds have been selling the electric vehicle maker's stock over the last few weeks and reinvesting the proceeds…

Read more »

two computer geeks sit across from each other with their laptop computers touching as they look confused and confounded by what they are seeing on their screens.
International Stock News

Is Nvidia stock heading to $175?

The bulls are lining up ahead of Nvidia's earnings report next week.

Read more »

A woman holds a bitcoin token in her hand as she smiles at the camera in the background.
International Stock News

Bitcoin keeps soaring. Could it hit $95,000 this week?

Could the current crypto rally have enough juice to push the coin above that once-inconceivable level?

Read more »

A boy in a green shirt holds up his hands in front of a screen full of question marks.
International Stock News

2 reasons to buy Nvidia shares before November 20 (and 1 reason to wait)

This top AI stock has soared nearly 200% this year!

Read more »

A group of friends push their van up the road on an Australian road.
International Stock News

Why Tesla stock just pulled back

Tesla finally hit a speed bump after a blistering post-election rally.

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
International Stock News

Why Tesla stock keeps going up

Tesla stock costs more than $1 trillion now. Is that too expensive?

Read more »

A businessman in soft-focus holds two fingers in the air in the foreground of the shot as he stands smiling in the background against a clear sky.
International Stock News

2 Numbers I'll be looking for on November 20 when Nvidia reports earnings

While many analysts and investors will be looking at revenue and profit growth, two other figures are more important to…

Read more »

A man wearing a blue jumper and a hat looks at his laptop with a distressed and fearful look on his face.
International Stock News

Magnificent Seven: Unstoppable tech stock giants or risky buys?

Did you know the "Magnificent Seven" moniker was meant as a warning, not an endorsement? Check out the risks and…

Read more »