Alphabet Inc.'s GOOGL, -0.44% Waymo self-driving car unit announced a premium electric fully self-driving car at a New York event Tuesday, which the company said was the first of its kind. The new SUV, called the I-Pace, will be done in a partnership with Jaguar Land Rover. The company said it would be adding 20,000 I-Pace vehicles to its fleet within the first two years of production. Waymo also said that it would launch a fully self-driving service in Phoenix this year, through which members of the public will be able to take the company's fully self-driving cars anywhere in the company's service area. The initial business model will be ride-hailing. Waymo also has self-driving sedans, minivans, and Class 8 semi trucks. Alphabet shares slipped 0.2% in morning trading, while the S&P 500 SPX, +0.53% was down less than 0.1%.