Waymo is partnering with Renault and Nissan to launch it’s global expansion efforts (GOOGL)

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Alphabet’s self-driving vehicle unit Waymo has entered into a partnership with global automaker Renault and Nissan to jointly explore driverless mobility services in France and Japan, each auto firm’s respective home market, according to The Wall Street Journal.

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While the specific scope of the partnership isn’t known, the companies revealed that they would work on services that would transport both people and goods. The agreement established an exclusive partnership between the three companies in France and Japan, but with a goal of forming a long-term relationship that will extend beyond those two markets.

This partnership effectively launches Waymo’s global expansion efforts. Up to now, Waymo has focused exclusively on growing its capabilities and presence in the US. This includes partnerships with Fiat Chrysler Automotive (FCA) and Jaguar Land Rover to supply Waymo with vehicles in the US, and a partnership with Lyft to make a small number of Waymo’s autonomous vehicles (AVs) available via the Lyft app.

According to a statement by CEO John Krafcik, cited by TechCrunch, the Renault and Nissan deals offer "an ideal opportunity for Waymo to bring our autonomous technology to a global stage."

For Renault and Nissan, the partnership provides access to Waymo’s technology and expertise, which could enable them to accelerate their ability to bring self-driving services to market — and to do so at a relatively lower cost. Waymo is arguably the world’s most advanced AV company; it’s already launched the US’ first commercial AV ride-hailing service.

This follows nearly a decade of development and billions of dollars in investment, with a particular focus on advanced data technology. The firm has completed more than 10 billion miles of public road tests, strengthening the capabilities of its technology with each test by continuously feeding its self-driving algorithm higher quantities of valuable data.

Partnering with Waymo bolsters Renault and Nissan’s abilities in the space and could save them billions of dollars in development costs in the process, as they can utilize Waymo’s tech instead of building their own. Many high-profile automakers have been consolidating their driverless offerings — such as the recent partnership between Volkswagen and Ford — to share costs and technology.

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