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Alphabet Boosts Self-Driving Cars With Waymo-Jaguar Deal
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Alphabet Inc.’s (GOOGL - Free Report) self-driving car unit, Waymo, is making continuous efforts to increase its chances of becoming the leader in self-driving vehicles and also add fuel to push back the trail date against Uber.
Waymo recently announced a partnership with U.K. carmaker, Jaguar Land Rover, to expand its autonomous drive ride-hailing program.
The company will buy 20,000 utility vehicles from the car maker. These vehicles will be modified with radar, LiDar sensors and cameras to ensure proper safety requirements.
This deal is definitely not a good news for Uber as it is currently not in a favorable position because of the recent death that took away the life of a woman by a self-driving test vehicle. This incident has prompted investigation by regulators and Uber has gained a lot of criticism from advocates.
We believe that Alphabet’s expertise in data collecting, storing and monetizing makes it a formidable player in the autonomous driving market. An early breakthrough in the space, based on such deals, will encourage investors and boost Alphabet’s share price and competitive position.
Notably, shares of Alphabet have generated a return of 18.5% in a year’s time, outperforming its industry’s growth of 7.1%.
Waymo Looks to Boost its Ride-Sharing Efforts
In an ongoing effort, Waymo now plans to buy tens of thousands of vehicles from the U.K. carmaker and collaborate on future technology. Waymo will test a self-driving version of Jaguar Land Rover’s I-Pace sport utility vehicle and later incorporate it into the Waymo fleet from 2020.
The alliance with Jaguar will give Waymo a way to add thousands of high-end all-electric vehicles to its fleet.
Waymo’s CEO John Krafcik said, "We want to build a diversity of vehicle forms and vehicle types with the goal of providing just the right car for every trip, for every person, for every need."
Waymo is all geared up to launch a ride-hailing service without human drivers later this year. Currently, it is using modified Chrysler Pacifica hybrid minivans to test its self-driving technology at locations around the United States, including suburban Phoenix.
Waymo Gearing Up for a First Mover Advantage
The process started when it was spun off as a separate company. Since then, Waymo has accelerated its push in this space, predominantly with partnerships. The company seems to be firing on all cylinders to counter stiff competition from the likes of Uber.
The deal is another example of how important partnerships are, as more and more companies are making their presence felt in the space.
Waymo has already struck a deal with Fiat Chrysler for thousands of hybrid minivans. Apart from ongoing partnership with Fiat Chrysler, the company is working on a self-driving vehicle partner program with Lyft. It is also currently negotiating with Honda and other vehicle makers to forge additional potential partnerships.
Wrapping Up
It goes without saying that the autonomous driving space will witness a spate of innovations in the next few years, both by technology companies and automakers, as well as by smaller startups. According to Research & Markets data, global software market for autonomous cars is anticipated to grow at a CAGR of 76.1% between 2017 and 2021. This is one of the best places to be in because the technology is being developed. Also, early investors can sell their interest at a hefty premium.
With Alphabet taking so much interest in the autonomous driving space segment, more investments in this space are expected to happen sooner or later.
Alphabet carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the technology sector are Stamps.com Inc. , PetMed Express (PETS - Free Report) and ASOS Plc (ASOMY - Free Report) . While Stamps.com sports a Zacks Rank #1 (Strong Buy), PetMed and ASOS Plc carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings per share growth rate for Stamps.com, PetMed and ASOS Plc is projected to be 15%, 10% and 27%, respectively.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Image: Bigstock
Alphabet Boosts Self-Driving Cars With Waymo-Jaguar Deal
Alphabet Inc.’s (GOOGL - Free Report) self-driving car unit, Waymo, is making continuous efforts to increase its chances of becoming the leader in self-driving vehicles and also add fuel to push back the trail date against Uber.
Waymo recently announced a partnership with U.K. carmaker, Jaguar Land Rover, to expand its autonomous drive ride-hailing program.
The company will buy 20,000 utility vehicles from the car maker. These vehicles will be modified with radar, LiDar sensors and cameras to ensure proper safety requirements.
This deal is definitely not a good news for Uber as it is currently not in a favorable position because of the recent death that took away the life of a woman by a self-driving test vehicle. This incident has prompted investigation by regulators and Uber has gained a lot of criticism from advocates.
We believe that Alphabet’s expertise in data collecting, storing and monetizing makes it a formidable player in the autonomous driving market. An early breakthrough in the space, based on such deals, will encourage investors and boost Alphabet’s share price and competitive position.
Notably, shares of Alphabet have generated a return of 18.5% in a year’s time, outperforming its industry’s growth of 7.1%.
Waymo Looks to Boost its Ride-Sharing Efforts
In an ongoing effort, Waymo now plans to buy tens of thousands of vehicles from the U.K. carmaker and collaborate on future technology. Waymo will test a self-driving version of Jaguar Land Rover’s I-Pace sport utility vehicle and later incorporate it into the Waymo fleet from 2020.
The alliance with Jaguar will give Waymo a way to add thousands of high-end all-electric vehicles to its fleet.
Waymo’s CEO John Krafcik said, "We want to build a diversity of vehicle forms and vehicle types with the goal of providing just the right car for every trip, for every person, for every need."
Waymo is all geared up to launch a ride-hailing service without human drivers later this year. Currently, it is using modified Chrysler Pacifica hybrid minivans to test its self-driving technology at locations around the United States, including suburban Phoenix.
Waymo Gearing Up for a First Mover Advantage
The process started when it was spun off as a separate company. Since then, Waymo has accelerated its push in this space, predominantly with partnerships. The company seems to be firing on all cylinders to counter stiff competition from the likes of Uber.
The deal is another example of how important partnerships are, as more and more companies are making their presence felt in the space.
Waymo has already struck a deal with Fiat Chrysler for thousands of hybrid minivans. Apart from ongoing partnership with Fiat Chrysler, the company is working on a self-driving vehicle partner program with Lyft. It is also currently negotiating with Honda and other vehicle makers to forge additional potential partnerships.
Wrapping Up
It goes without saying that the autonomous driving space will witness a spate of innovations in the next few years, both by technology companies and automakers, as well as by smaller startups. According to Research & Markets data, global software market for autonomous cars is anticipated to grow at a CAGR of 76.1% between 2017 and 2021. This is one of the best places to be in because the technology is being developed. Also, early investors can sell their interest at a hefty premium.
With Alphabet taking so much interest in the autonomous driving space segment, more investments in this space are expected to happen sooner or later.
Alphabet Inc. Price and Consensus
Alphabet Inc. Price and Consensus | Alphabet Inc. Quote
Zacks Rank
Alphabet carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the technology sector are Stamps.com Inc. , PetMed Express (PETS - Free Report) and ASOS Plc (ASOMY - Free Report) . While Stamps.com sports a Zacks Rank #1 (Strong Buy), PetMed and ASOS Plc carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings per share growth rate for Stamps.com, PetMed and ASOS Plc is projected to be 15%, 10% and 27%, respectively.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>