Recent Vision-Language-Action (VLA) models for autonomous driving explore inference-time reasoning as a way to improve driving performance and safety in challenging scenarios. Most prior work uses natural language to express chain-of-thought (CoT) reasoning before producing driving actions. However, text may not be the most efficient representation for reasoning. In this work, we present Latent-CoT-Drive (LCDrive): a model that expresses CoT in a latent language that captures possible outcomes of the driving actions being considered. Our approach unifies CoT reasoning and decision making by representing both in an action-aligned latent space. Instead of natural language, the model reasons by interleaving (1) action-proposal tokens, which use the same vocabulary as the model's output actions; and (2) world model tokens, which are grounded in a learned latent world model and express future outcomes of these actions. We cold start latent CoT by supervising the model's action proposals and world model tokens based on ground-truth future rollouts of the scene. We then post-train with closed-loop reinforcement learning to strengthen reasoning capabilities. On a large-scale end-to-end driving benchmark, LCDrive achieves faster inference, better trajectory quality, and larger improvements from interactive reinforcement learning compared to both non-reasoning and text-reasoning baselines.