Google parent company Alphabet is taking its autonomous car effort to the next level.

John Krafcik, CEO of Google's Self-Driving Car Project, announced in a blog post Tuesday that the company's effort to build and test a driverless car has gone from a research project to a business.

"Since 2009, our prototypes have spent the equivalent of 300 years of driving time on the road and we've led the industry from a place where self-driving cars seem like science fiction to one where city planners all over the world are designing for a self-driven future," wrote Krafcik, in the blog post. "Today, we're taking our next big step by becoming Waymo, a new Alphabet business."

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