Suzuki backs Glydways robocar startup for Southeast Asia expansion
Summary
Robocar network startup Glydways Inc., based in South San Francisco, has garnered support from OpenAI co-founder Sam Altman and Japanese automaker Suzuki Motor Corp., marking a pivotal step in its expansion into Southeast Asia.Glydways, an autonomous vehicles and infrastructure company, has raised $76 million in its Series B funding round. This round includes contributions from Altmans Apollo Projects and a consortium of new investors such as Suzuki, Mitsui Chemicals Inc., and oil refinery operator Eneos Holdings Inc. However, Suzuki representatives declined to comment, and Apollo Projects did not immediately respond to a request for comment.Glydways proposal involves networks of narrow roads dedicated to its driverless vehicles, which operate on demand and maintain an average speed of 50 kilometers per hour, transporting users directly to their destinations without stops. This model requires only a fraction of the space needed for traditional train tracks, making it a potentially revolutionary solution for urban mobility.The company, which initially received a $5 million investment from Japanese used-car dealer Heiwa Auto Co., aims to begin passenger services between San Jose Mineta International Airport and the citys central Diridon Station in the US by 2028. Despite the ambitious plans, one of the primary challenges remains securing land in densely populated metropolitan areas for building new roads and stations.If were successful, a multi-trillion-dollar industry will completely change," Seeger said, envisioning a radical transformation in daily transportation.