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GM Stock Hits New 52-Week High As Semi-Autonomous Cadillacs Hit The Road
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General Motors (GM - Free Report) stock popped on Monday morning after it was reported that the automaker is set to show off its new semi-autonomous driving technology on a cross-country road trip this week, right before the technology starts to make its way to dealerships.
The company outfitted a dozen Cadillac CT6 sedans with GM’s new “Super Cruise,” hands-free driver assist technology. The Cadillacs will depart from New York on Monday and drive to Los Angeles in a demonstration of GM’s semi-autonomous driving technology, according to an Associated Press report.
The auto giant’s nascent self-driving car technology has been in the works for a while in order to make sure it is safe. GM’s Super Cruise technology is designed to keep the car centered in its lane and at a safe distance from other vehicles. The system will only work on limited-access, divided highways where pedestrians and other obstacles are more rare.
The Super Cruise technology also features an array of other safety features, but the basic concept is simple: drivers don’t have to keep their hands on the steering wheel at all times.
Coming up on @TODAYshow - the first hands free car is taking off on a coast to coast trip. I'll take you along for a ride. pic.twitter.com/KTB4D3E90Y
Super Cruise utilizes military-grade GPS, a front-facing camera, and a ton of other radars. Drivers must remain completely focused and alert at all times in order to be able to take control of the wheel at a moments notice.
GM’s technology monitors the driver’s face to ensure they are paying attention. A small infrared steering wheel camera tracks the position of the driver’s head. If the system detects that a driver has looked away from the road ahead—left, right, or down—for more than a few seconds, a light on the steering wheel will flash.
If drivers do not react quickly enough, Super Cruise warnings escalate. The driver’s seat begins to vibrate, the steering wheel flashes red, and audible alerts sound. If these warnings are ignored, the car’s emergency flashers turn on before it automatically slows to a stop and contacts GM’s OnStar safety system. The faster the car is traveling, the less time the driver has to react.
Super Cruise-equipped Cadillacs will start to ship to dealerships this week. The semi-autonomous, self-driving system is set to come standard in the Cadillac CT6 Platinum model, and will also be available as part of an upgraded package in Premium Luxury CT6 cars.
Shares of GM jumped over 2.50% in morning trading to hit a new 52-week intraday trading high of $40.64 per share. GM is currently a Zacks Rank #3 (Hold) but scored an “A” for Value and a “B” for both Growth and Momentum in our Style Scores system.
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GM Stock Hits New 52-Week High As Semi-Autonomous Cadillacs Hit The Road
General Motors (GM - Free Report) stock popped on Monday morning after it was reported that the automaker is set to show off its new semi-autonomous driving technology on a cross-country road trip this week, right before the technology starts to make its way to dealerships.
The company outfitted a dozen Cadillac CT6 sedans with GM’s new “Super Cruise,” hands-free driver assist technology. The Cadillacs will depart from New York on Monday and drive to Los Angeles in a demonstration of GM’s semi-autonomous driving technology, according to an Associated Press report.
The auto giant’s nascent self-driving car technology has been in the works for a while in order to make sure it is safe. GM’s Super Cruise technology is designed to keep the car centered in its lane and at a safe distance from other vehicles. The system will only work on limited-access, divided highways where pedestrians and other obstacles are more rare.
The Super Cruise technology also features an array of other safety features, but the basic concept is simple: drivers don’t have to keep their hands on the steering wheel at all times.
Super Cruise utilizes military-grade GPS, a front-facing camera, and a ton of other radars. Drivers must remain completely focused and alert at all times in order to be able to take control of the wheel at a moments notice.
GM’s technology monitors the driver’s face to ensure they are paying attention. A small infrared steering wheel camera tracks the position of the driver’s head. If the system detects that a driver has looked away from the road ahead—left, right, or down—for more than a few seconds, a light on the steering wheel will flash.
If drivers do not react quickly enough, Super Cruise warnings escalate. The driver’s seat begins to vibrate, the steering wheel flashes red, and audible alerts sound. If these warnings are ignored, the car’s emergency flashers turn on before it automatically slows to a stop and contacts GM’s OnStar safety system. The faster the car is traveling, the less time the driver has to react.
Super Cruise-equipped Cadillacs will start to ship to dealerships this week. The semi-autonomous, self-driving system is set to come standard in the Cadillac CT6 Platinum model, and will also be available as part of an upgraded package in Premium Luxury CT6 cars.
Shares of GM jumped over 2.50% in morning trading to hit a new 52-week intraday trading high of $40.64 per share. GM is currently a Zacks Rank #3 (Hold) but scored an “A” for Value and a “B” for both Growth and Momentum in our Style Scores system.
Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>