Go, Japan's largest taxi-hailing app, has raised ¥88.6 billion ($553 million) in its initial public offering, which will be used to expand its robotaxi business and make acquisitions. The company aims to address Japan's shortage of drivers, which has fallen by roughly 20% in recent years.
Go has partnered with Waymo, an autonomous driving subsidiary of Alphabet, to develop its robotaxi services. The company has not set a timeline for fully driverless operations but plans to begin driving fully autonomously when its technology is validated and approved.
The expansion of Go's robotaxi business is part of a larger trend in Japan, with companies like Uber and Nissan also investing in autonomous vehicle technology. Go's IPO has provided the company with the necessary capital to invest in research and development and make strategic mergers and acquisitions.
