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Stock impact report

Waymo says it will build self-driving cars in Michigan [Reuters]

Magna International, Inc. (MGA) 
Last magna international, inc. earnings: 2/21 05:00 am Check Earnings Report
US:NYSE Investor Relations: magna.com/investors
Company Research Source: Reuters
Waymo says it will build self-driving cars in Michigan (Reuters) - Alphabet Inc’s Waymo self-driving vehicle unit said on Tuesday it plans to build a plant in Michigan to transform vehicles into autonomous cars for Waymo’s ride services business. Waymo has proposed private investments of $13.6 million to build a facility in southeast Michigan and create more than 100 jobs, potentially up to 400 jobs, the Michigan Economic Development Corp said separately on Tuesday. The state agency said it will contribute an $8 million grant to fund the project, it added. That would equate to $20,000 in state aid per job if the project hits the 400 employee target. Waymo said the new facility would be dedicated to mass production of L4 or level 4 autonomous vehicles which can pilot themselves without a human driver under certain conditions. Waymo said in a blog post it will work with auto supplier Magna International Inc to install its self-driving system in vehicles manufactured by others. Waymo is Show less Read more
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