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Ford Motor Co. ( F - Analyst Report ) has announced the opening of the Silicon Valley Lab (SVL) in Palo Alto, California. Engaging Bay Area technology companies and startups, the center of focus for the lab will be big data, open-source innovation and user experience. This will lead to the enhancement of personal mobility and advancement of automotive technology.
Data plays an important role in decision making, marketing strategy building and product designing. Vehicle data can be used in creating a personalized, convenient and productive driving experience.
Ford Motor, with open-source innovation, will be using vehicles as platform for the development of hardware and software applications. The SVL will be using the research platform OpenXC, which was developed in Bug Labs. Through user experience the company will provide information and services to the customers.
The company, with its continuous technological innovations, has established a position for itself. The new lab will add to the existing research and development initiatives undertaken by the company and will help in capturing the regions that are driving consumer technology. Thus, technological upgrades and innovation will lead to safe and secure, intuitive and enjoyable ride for the customers.
Ford Motor’s research and development activities are spread all over the world. It has Research and Innovation facilities in Dearborn, Michigan; Aachen in Germany; Nanjing in China; and technology scouts in Tel Aviv, Israel.
Michigan-based Ford Motor is one of the largest automobile producers worldwide.The company is divided into two segments: Automotive and Financial services. Its core and affiliated automotive brands include Ford, Lincoln, and Mercury.
Although the U.S. is Ford Motor’s primary selling ground, Europe, South America, and the Asia-Pacific constitute its other major markets. One of its competitors, General Motors Company ( GM - Analyst Report ) also has GM Advanced Technology Silicon Valley Office for research and development of new technology.
Currently, Ford Motor retains a Zacks #3 Rank, which translates into a short-term (1 to 3 months) Hold rating. We have a long-term (more than 6 months) Neutral recommendation on the stock.
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