General Motors Company (NYSE: GM) Is Leading the Self-Driving Revolution
General Motors Company (NYSE: GM) recently reported to the California State authorities that it disengaged the self-driving mechanisms on its test cars less than once per 1,000 miles during testing. The only other cars that beat GM’s record were self-driving cars developed by Waymo, a subsidiary of Alphabet Inc (NASDAQ: GOOGL), which posted slightly better results.
GM is leading the ongoing driverless car revolution.
The company is facing stiff competition from Google subsidiary Waymo.
Other automakers such as Ford are playing catch up.
The company’s test results are quite impressive given that it mainly tests its self-driving cars on busy urban roads within cities such as San Francisco. Other companies are mainly testing their autonomous cars in less busy suburban roads, which do not have the multitude of driving challenges found on busy city streets.
GM is facing stiff competition from Waymo, which has partnered with Fiat Chrysler Automobiles NV (NYSE: FCAU) to develop its driverless car fleet. The partner companies recently announced that Waymo would be launching a fleet of driverless taxis in Phoenix by the end of this year. The announcement is a direct challenge to GM, which is also planning to launch a fleet of driverless cars next year for use as a ride-hailing service.
It is evident that GM and Waymo are quite close to launching fully autonomous cars on American roads, while other companies are playing catch up. Ford Motor Company (NYSE: F) recently announced that it had split up its mobility subsidiary known as Ford Smart Mobility into four divisions in order to fast-track the development of its driverless cars.
Ford’s smart mobility unit also revealed that it has acquired Autonomic, which is a company that focuses on maximizing the architecture, scale and leverage of transport systems. The company also acquired TrasLoc for almost similar purposes, which indicates that Ford wants to capitalize on technology changes affecting modern transport systems in order to accommodate new transport technologies such as driverless cars.
Earlier this month, GM announced that it expects 2018 profits to be in line with 2017 profits. Given that the automaker’s profits have been rising since 2013, this year’s profitability is not impressive.
Finally, it is not enough to know that a stock is likely to head higher, or lower this year. As an investor or trader, it is important to time your entry and exit points accurately in order to minimize risk and maximize your profit potential.
Stock Traders Daily provides risk-controlled strategies that are tailored to different trading and investment styles in order to protect your investment capital and to generate substantial returns for each subscriber.