Latest news with #AichaEvans
Globe and Mail
a day ago
- Automotive
- Globe and Mail
'High End Computers on Wheels': Amazon (NASDAQ:AMZN) Ramps Up Zoox Production
The move to get cars out on the streets that drive themselves—whether in our garages or serving as the connection between humans and ride-sharing programs—is only ramping up. And online retail giant Amazon (AMZN) is right in the thick of it as its Zoox arm is stepping up production ahead of a formal launch in Las Vegas later this year. As big a deal technologically as this is, Amazon shareholders were oddly tepid about it all, giving Amazon shares a fractional boost in Wednesday afternoon's trading. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Zoox just opened a new manufacturing operation in the San Francisco Bay Area—a site in Hayward, California, reports noted—to start stepping up its production. Right now, Zoox makes just one robotaxi per day, but as the launch gets closer, that number will increase substantially. In fact, reports suggest, by the time the operation reaches full scale, it will produce in about 20 minutes what it currently produces in a day, reaching a total rate of about 10,000 robotaxis per year. Of course, this low production rate is not much of a problem, notes Aicha Evans, Zoox CEO. Zoox is not actually selling these cars, but making them for internal use. In fact, Evans noted, the cars were essentially '… high-end computers on wheels.' The vehicles, shaped like toasters, reportedly have no steering wheel, and riders face each other almost like a stagecoach, or 'carriage-style' vehicle would work. A Page Out of the Good Book Meanwhile, Amazon's streaming aspirations continue along, as new reports suggest that Amazon is once again turning to religion for inspiration. Currently working with Dallas Jenkins of The Chosen, Amazon is now starting work on a series that focuses on Joseph, former second-in-command of all Egypt, who you might best remember for having a really colorful coat. The series, dubbed Joseph of Egypt, will be executive produced by Jenkins, with Craig Wright handling writing as well as executive production duties. Amazon Prime is also currently running House of David, reports note, which started in February and got a second season shortly after. Release dates for Joseph of Egypt, meanwhile, are not yet known. Is Amazon a Good Long-Term Investment? Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 46 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 15.43% rally in its share price over the past year, the average AMZN price target of $241.64 per share implies 12.16% upside potential. See more AMZN analyst ratings Disclosure
Bloomberg
2 days ago
- Business
- Bloomberg
Amazon-Backed Zoox Opens Robotaxi Plant
Bloomberg Technology TV Shows Zoox CEO Aicha Evans discusses the robotaxi firm's growth plans from its new manufacturing facility in the San Francisco Bay Area. Evans joins Caroline Hyde and Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
CNBC
2 days ago
- Automotive
- CNBC
Amazon's Zoox boosts robotaxi production ahead of first commercial launch in Las Vegas
Amazon-owned autonomous vehicle startup Zoox on Wednesday opened a sprawling new manufacturing facility in the San Francisco Bay Area, paving the way for more robotaxi production as it plans a commercial rollout of its fleet later this year. The company will use the site in Hayward, California, to increase its robotaxi fleet significantly. The facility is currently producing one robotaxi per day, but Zoox said it expects to accelerate production over the coming year. At full scale, it will have the capacity to assemble 10,000 robotaxis a year, with roughly three robotaxis being produced per hour, the company said. Zoox did not provide a timeline for reaching that production level. "We don't need to crank out a vehicle every minute because we're not selling these things," Zoox CEO Aicha Evans said on the facility's production floor during a tour. Zoox needs more of its toaster-shaped robotaxis to roll off the assembly line in order to fulfill its mission of deploying a commercial ride-hailing service in the U.S. Zoox, founded 11 years ago and purchased by Amazon for $1.3 billion in 2020, began testing its robotaxis on public roads in 2023. The company currently has a few dozen robotaxis on public roads in Foster City, California, San Francisco and Las Vegas. Zoox is racing to catch up to Alphabet's Waymo, which operates the only fully public driverless ride-hailing service in the U.S. Waymo has aggressively expanded into new U.S. markets in recent years, and provides more than 250,000 paid trips each week across Phoenix, San Francisco, Los Angeles and Austin. Evans said Zoox is "very proud" of Waymo's progress, adding that it helps validate the work that Zoox and others are doing to deploy an autonomous ride-hailing service. Elon Musk's Tesla is poised to launch its robotaxi service in Austin on June 22, though Musk cautioned that date could shift as the company is "being super paranoid about safety." Zoox is gearing up to launch public rides in Las Vegas, its first commercial market, later this year. San Francisco is expected to follow in 2026, with additional locations in Austin and Miami coming in the next few years. Similar to other rideshare services such as Uber and Lyft, Zoox riders will be able to hail a robotaxi via an app. Unlike Waymo, which uses Geely Zeekr minivans, Zoox has developed its own custom-built "carriage-style" vehicles, where up to four passengers face each other and there's no steering wheel. Evans called the robotaxis "high-end computers on wheels." Zoox CTO Jesse Levinson has said previously that the cost of developing Zoox's bespoke robotaxis is "significant." The cost of each vehicle should come down as Zoox scales up its fleet, Levinson said during the tour. Zoox said the new facility, spanning roughly 3.5 football fields, is the first site "dedicated solely to producing purpose-built robotaxis" in the U.S., a well-timed move given President Donald Trump's aggressive tariff policies. The facility was occupied by bus manufacturer Gillig prior to Zoox's arrival. About half of the company's suppliers are based in the U.S., but it also sources some parts from countries including China and Italy. Zoox may open additional manufacturing facilities elsewhere in the U.S. and internationally over time, Evans said. The facility is located just across the bay from Zoox's headquarters in Foster City, California. The company also operates a small manufacturing facility in Fremont, California, which will now be used to assemble its test fleet of retrofitted Toyota SUVs and to configure the sensor pods that sit atop its robotaxis, enabling them to see in all directions. The Hayward facility currently employs about 100 technicians. Zoox also uses robots for specific tasks on the floor like applying adhesive for glass installation and transporting the robotaxi from station to station down the assembly line. Once the vehicle is assembled, it goes through end-of-line testing. This includes a calibration bay to ensure all cameras and sensors work properly, a station that stress tests the powertrain at high speeds and then the vehicle takes a "shower" in a simulated rainstorm to check for any leaks. The robotaxis take several laps around a test track located behind the facility before they're considered "fit for the road," Zoox said. Zoox has ramped up marketing as it prepares to open its service to the public. "Because the vehicle looks so different, we need to announce ourselves," Evans said.
Business Journals
22-04-2025
- Business
- Business Journals
Zoox expands footprint with lease at Illumina campus in Bay Area
By submitting your information you are agreeing to our Privacy Policy and User Agreement . The deal is among the largest commercial leases in the Bay Area this year. Story Highlights Zoox subleases 200,000 square feet near Foster City headquarters. Amazon-owned Zoox expands autonomous vehicle testing to multiple U.S. cities. Excess office space creates opportunities for growing tech companies. Autonomous vehicle startup Zoox is adding at least 200,000 square feet of office space near its Foster City headquarters — a significant expansion as the company continues its growth. Zoox has agreed to sublease much of Illumina Inc.'s campus at 200–800 Lincoln Centre Dr., less than a mile from its current hub, according to real estate insiders. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events The company, owned by press-cautious Inc., declined to discuss the expansion. The deal is among the largest commercial leases in the Bay Area this year. It reflects Zoox's expanding operational footprint and growing presence in the autonomous ride-hailing sector, currently led by Alphabet Inc.-backed Waymo. It also highlights shifts in the local real estate market: Supply of life sciences space exceeds demand. That's giving companies like Zoox an opportunity to quickly scale by occupying move-in-ready office buildings. Completed in 2017, Illumina's Foster City campus and spaces were developed by BioMed Realty Trust Inc., designed by architects HOK and Perkins & Will, and feature stunning views of the bay and an outdoor amphitheater centered within a plaza. For more stories like this one, sign up for the Business Journal's free morning and afternoon daily newsletters or download our free app. Illumina is still on the hook for the office space. At the end of its fiscal year in 2024, the company reported a $12 million charge related to its Foster City campus, compared with $38 million the previous year. As of December 2024, the remaining value of assets at the campus stood at $100 million. Zoox expands into new markets Founded over a decade ago at Stanford University, Zoox is best known for its compact autonomous vehicle — often compared to a toaster on wheels — with seating for four. Since being acquired by Amazon for $1.3 billion in 2020, Zoox has grown steadily under CEO Aicha Evans. The company began testing robotaxis in San Francisco nearly eight years ago, and in late 2024 expanded its testing in the SoMa neighborhood with a new model of vehicle that does not have a driver's seat or steering wheel. This month, Zoox said it has expanded to Los Angeles. Its test fleet also operates in Foster City, Seattle, Austin, Miami and Las Vegas, where paid service is expected to launch later this year. Zoox is growing even as global expectations for autonomous vehicles have cooled. In 2024, Goldman Sachs noted that while wide adoption remains slow, artificial intelligence is expected to help drive the industry forward. Zoox underscores that prediction. Co-founder Jesse Levinson said it's been making strides as it tests its AI-driven technology across the U.S. A McKinsey report also noted robotaxis currently cost more per mile than today's ride-hailing services, but the gap may close quickly, with costs per mile projected to fall by more than 50% by 2030. Faced with these trends, Uber has partnered with Waymo in cities like Austin and Atlanta, signaling a move toward collaboration. Office space glut creates opportunities Zoox also reflects how large swaths of vacant office space across the Bay Area — especially in the tech and biotech sectors — are creating opportunities for fast-growing companies. One notable example is Snowflake Inc., which last year subleased 773,000 square feet from Meta Platforms. Meta, offloading space at its Menlo Gateway campus, had been downsizing its real estate holdings. In the Peninsula, sublease space peaked at 2.9 million square feet — equal to about two Salesforce Towers — in the fourth quarter of 2023, according to real estate brokerage Colliers. Now, new life sciences projects are under construction, but demand is growing more uncertain. Recently, some developers reported strong interest from technology companies and professional services firms.
