The companies didn't announce any timelines, but Toyota could be setting the stage for future vehicle announcements, be it EVs or gas-powered cars.

Waymo and Toyota have agreed to explore a possible deal that could one day lead to a new vehicle designed for ride-hailing and even bring self-driving

Toyota Motor and Alphabet's Waymo said on Wednesday they will explore collaborating on the development of a new autonomous vehicle platform and ways to enhance next-generation personally owned vehicles (POVs).