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Amazon Finally Set to Enter Emerging Industry After $1.2 Billion Investment
- Amazon is set to enter the self-driving cabs industry after a $1.2 billion investment in Zoox.
- The investment is part of Amazon's plan to compete with Waymo in developing robotaxis.
- Amazon acquired Zoox, a robotaxi start-up company, five years ago.
- A plant near Silicon Valley will be used by Amazon to build as many as 10,000 robotaxis per year.
- Zoox is expected to start services with robotaxis in Las Vegas by late 2025, expanding to San Francisco later.
- Waymo currently leads in the self-driving car industry, with 10 million paid rides in several big cities.
- Elon Musk's Tesla also plans to introduce robotaxis in Austin, Texas, from June 22.
- Amazon and Zoox are looking to challenge Waymo in the self-driving cab sector.
- Both Amazon and Tesla are aiming to integrate self-driving capabilities to their transportation services.
- Competition in the self-driving cab market is increasing with major players investing in the technology.
- The entrance of Amazon and Tesla into self-driving cabs indicates a shift towards autonomous transportation.
- The self-driving cab industry is witnessing rapid advancements as more companies join the competition.
- The developments in self-driving technology indicate a potential transformation in the transportation sector.
- Amazon's investment in Zoox highlights the company's interest in expanding its presence in the autonomous vehicle industry.
- The competition between Amazon, Tesla, and established players like Waymo signifies growing interest in self-driving technologies.
- The self-driving cab industry is poised for significant growth and innovation with the involvement of key players.
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