This week, Google surprised the technology and automotive industries by announcing that it would spin-out its self-driving vehicle group as a formal business unit under the Alphabet umbrella. What does Waymo mean? Waymo CEO John Krafcik explained at its press conference that the company name stands for, “Way forward in Mobility.” After years of speculation as to whether or not Google (now Waymo) would introduce its own fleet of self-driving cars, its now clear that the company will become an enabling partner…