Wayve Technologies Limited

We just found out.

So maybe they partner with Wayve like Mercedes did.

So keep an eye out on that in, in what Aito ends up doing over the next six to eight months to reconcile their intelligent driving capabilities for the European market.

When we talk about Aito, we also have to talk about Seres, which is the Chinese automaker in the partnership.

So, not just, uh, the massive inference spend, debt-fueled, like, everyone's trying everything wave of AI, which is happening today and really has happened the past few years, but also the next order, maybe, like, post-AGI framing of how people start thinking about margins for these models, how people start thinking about forking their models and using open source model, all these things.

And so, um, you know, again, to this point, like, our firm has been built off of some, uh, very large seed investments that are n- now big companies in AI, most notably a company called Wayve, which is in the self-driving space, another company called Runway, which has built-

Oh, Wayve.

I just, uh, I was just watching a video of them and, uh, Mercedes.

Yeah.

If you don't map the, the ride to the school, and you don't map the ride to the grocery store or to the Little League field, it's never going to happen, and we're seeing all the success that you and I both own a Tesla with FSD.

We're seeing the success of that, and then you're seeing the success that Wayve is having with all the partnerships.

They're lining up no maps.

If Hyundai announces a no maps strategy, then I think that becomes a signal.

The models, you know, it's easier to build a model these days 'cause you can use AI and Claude to help you with it.

But we can build sensitivities around this, but it, it's definitely something to keep in mind.

Especially, again, when the OEMs are signaling, "Hey, we don't wanna do robotaxis," right? GM is almost like saying like, "Hey, we're not gonna talk to you, Wayve, or [laughs] anyone else that's out there.

We're doing this on our own 'cause we wanna sell private cars." I think that's a failed strategy 'cause I don't think the OEMs have the culture to move this technology, um, that quickly forward.

It's basically ground zero for the global robotaxi competition, which is red hot.

I took my fir- I, well, I took a, a ro- what's my first? I took a robotaxi ride with Wayve while I was in London, which was cool.

Um, but, um, yeah, I was just exploring the city.

It is hopping.

If that does not happen, what should we do? Should we drown in the water with our kids? [chanting]

In a significant step towards the future of autonomous mobility, Stellantis is partnering with British AI startup Wayve to accelerate the development of self-driving technology.

Demonstrated on the streets of Turin with an electric Fiat 500e, the AI-powered system showcases advanced hands-free driving capabilities designed to handle complex urban traffic situations.

Reuters correspondent Giulio Piovaccari has more.

This electric Fiat 500 is, uh, running on an autonomous driving, uh, system, which is part of a deal between a British startup Wayve and Stellantis, which is the maker of brands such as, uh, Fiat, Peugeot, Jeep, and Ram, as, uh, uh, competition in, uh, the autonomous, uh, driving, um, industry is, uh, uh, is set to increase.

The technology is aimed at, uh, uh, what is known as, uh, a Level 2++ driving, uh, which means, uh, hands off the steering wheel, uh, on, uh, most situation, including motorways, but, uh, with still a human presence at the driving seat.

Most of the situation in which normally we need to take over with those type system is basically due to the human factor in the other drive that do, do stupid things.

But with the costs soaring and, uh, returns delayed, uh, uh, uh, over time, uh, they, uh, increasingly rely on AI partners to develop this technology.

As they do that, Pony.ai announced they're getting ready to launch commercial service with Uber in London, and what does that mean for hockey fans? That's a hat trick.

Why is that a hat trick? You got Wayve, you've got Baidu, and now you have Pony.

Three competitors, one platform in London.

Be very interesting to watch.

This is on the gen seven vehicle.

You know, ro- this is just an announcement, right? Road testing's probably gonna start in a couple of weeks.

Um, so if you think, if you're Uber, I guess they've got Wayve in London, right? They've got Pony there, and don't they also have Baidu? So isn't this the, isn't this, like, a three-horse race for them?

It's a hat trick.

There will be Wave, uh, sorry, Waymo taxis from the States, owned by Alphabet, the parent company of Google.

There will be, um, Alphabet Go Robotaxis are owned by Baidu, Chinese search engine, on the streets of London, and a homegrown UK one called Wayve.

Um, all of them carrying paying passengers next year.

So what does that mean? How do, how do we start to make decisions about a fundamentally Chinese modeled approach, which is very interesting and very good, a fundamentally North American modeled approach, also very interesting and very good, and a homegrown alternative? And how do we start to think through the geopolitical aspects of that as well? You know, where, where do we want to place our bets? Who do we-- who are we friends with? Who can we trust? Who can we rely on? Who can we build a business with? All of that playing out on the streets of London.

But when it comes to what are called world AI models and specific AI tasks, UK companies are right up there.

And one of the best examples is Wayve, a genuine world leader in self-driving car technology.

It's an eight billion pound British success story founded by Alex Kendall.

What I wanted to know from Alex, therefore, is whether the UK is a good place to develop a cutting-edge business.

Alex, thank you so much for joining us this morning.

There's a ton of stuff I need to discuss with you.

Uh, essentially what Wayve is, what it's like being an AI leader in the UK, essentially how you see your own future.

But I just wanna start with, tell us what is different about Wayve's self-driving technology, uh, from, say, a Waymo, uh, the, the, the, the business owned by Alphabet Google.