Alphabet’s Waymo unit slows self-driving trucking

Waymo, Alphebet Inc.’s self-driving unit, is slowing development of autonomous trucking being done by its Via subsidiary.

“With our decision to focus on ride-hailing, we’ll push back the timeline on our commercial and operational efforts on trucking, as well as most of our technical development on that business unit,” the company said in a statement July 26. “We’ll continue our collaboration with our strategic partner, Daimler Truck North America, to advance technical development of an autonomous truck platform.”

The move comes as Alphabet is prioritizing financial discipline. The company said it promoted Chief Financial Officer Ruth Porat to president and chief investment officer, saying it will stick to the more thrifty culture she has instilled.