Alphabet’s autonomous vehicle company, which is backed by Canada Pension Plan Investment Board and Ontario auto-parts manufacturer Magna, said it will focus on ride-hailing over businesses like trucking, local delivery and personal car ownership. (The Logic)

Talking point: The company said it is seeing “significant business growth and rider demand” in San Francisco, Phoenix and Los Angeles for its ride-hailing vehicles and will focus efforts and investment on that division. While Waymo is continuing to work with Daimler on self-driving trucks, it said it’s pushing back its commercial development for that business unit. Waymo laid off about eight per cent of staff earlier this year amid a tight investment environment. But this week, self-driving truck company Aurora raised US$820 million in a stock offering, while General Motors’ said it will cut its overall spending but is focusing on “highest impact growth initiatives,” including robotaxi company Cruise.