Waymo announced the launch of a premium subscription service called "Waymo Premier" priced at $29.99 per month, targeting frequent users of the company's autonomous vehicle service.

The invite-only membership tier offers several benefits to subscribers, including priority pickups for faster service, 10 percent cash back on rides, and free cancellations. The program is designed to provide what the company describes as a more elevated and exclusive autonomous riding experience.

The subscription service is initially rolling out to select cities where Waymo operates its robotaxi fleet. The company has positioned the premium tier to compete with similar offerings from ride-sharing companies, drawing comparisons to services like Uber One.

Waymo's move to introduce a subscription model reflects the growing maturity of the autonomous vehicle market and companies' efforts to build recurring revenue streams from their most loyal customers. The service targets users who rely heavily on Waymo's robotaxi platform for regular transportation needs.

The launch comes as autonomous vehicle companies continue to expand their commercial operations and explore new business models beyond per-ride pricing to enhance customer retention and increase revenue from frequent users.