Waymo

Alphabet Inc's (GOOGL.O) Google self-driving car project recast itself as Waymo on Tuesday December 13 2016, an independent entity within the technology giant, as executives suggested the company is close to bringing its autonomous driving to the public. Although no deals were announced, the move signals a desire to finally monetize the company's valuable research amid fierce competition from a score of rivals all vying to be the first to launch production-ready self-driving cars. Google's high-profile program, now in its seventh year, has been at the forefront of self-driving technology, but is now challenged by companies from Uber Technologies Inc [UBER.UL] to Apple Inc (AAPL.O) and traditional car companies in the fast-growing industry. Fiat Chrysler (FCHA.MI), Google's first partner, teamed up with the tech company in May 2016 to work together to integrate Google's self-driving system into 100 of the carmaker's minivans. Google has expanded its program over the past year, hiring more engineers while doubling its testing centers from two U.S. cities to four. Although there have been some significant departures over the past year - Chief Technical Officer Chris Urmson left in August after leading the project from its inception - some new hires have pointed to the program's readiness to move past its experimental stage. In July, the project appointed its first general counsel and a month later it hired former Airbnb executive Shaun Stewart as director of the project, with a mandate to commercialize the company's self-driving technology.