We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ford (F), Google Team Up for Cloud Services, Vehicle Connectivity
Read MoreHide Full Article
Ford (F - Free Report) recently entered into a six-year partnership with Alphabet (GOOGL - Free Report) owned Google, that will make the tech giant responsible for reinventing the connected vehicle experience aimed at accelerating the automaker’s current $11-billion restructuring plan.
Highlights of the Partnership
The alliance, effective 2023, will revolutionize virtually every element of the automotive business, from the way vehicles are designed, engineered and assembled to the way customers shop and then experience their vehicles. Google will also provide cloud computing and other technology services to the auto giant and build automotive technologies that keep people safe and connected on the road.
Per the deal, Google Cloud will become Ford’s preferred cloud provider, wherein the automaker will take advantage of Google’s world-class prowess in data, artificial intelligence (AI), and machine learning (ML) to accelerate its digital transformation and power connected vehicle technologies with the tech giant’s trusted, assured, and more reliable cloud. Google Cloud will enable Ford to enhance consumer experience by providing customized services. It will also accelerate modernization of operations, spanning from product development to supply-chain management, including the usage of vision AI for employee training and even sounder plant equipment performance. Ford is also planning to use the tech behemoth’s cloud to enable a system for sending customers real-time messages about maintenance or trade-in opportunities.
In fact, the deal encompasses integrating future Ford and Lincoln vehicles with Android, Google Assistant, Google Maps and Google Play. Android in the car will assist Ford and third-party developers to develop apps that constantly upgrade and personalize ownership experience. With Google Assistant, drivers can focus more on their driving by getting things done with just their voice. Google Maps will enable commuters to reach their destinations faster by providing real-time traffic information, automatic rerouting, lane guidance and much more. Google Play will give commuters access to their favorite apps for listening to music while driving, thus adding the component of in-car entertainment experience.
Per the alliance, employees from both companies will be part of a new group called Team UpShift. This team will leverage Google’s services and data expertise to better streamline Ford’s operations and create a more seamless experience for customers in order to aggravate the auto giant’s ongoing transformation.
Win-Win Deal for Both Ford and Google
Amid the heightening climate-change concerns, it has become imperative for automakers across the globe to provide green transportation solutions. Also, of late, there has been a push in the auto industry toward the development of autonomous vehicle technology. Amid this shifting scenario, Ford has been deeply committed toward its target to provide fully-electric and self-driving vehicles. The latest deal will help Ford pace up its endeavors and create a line-up of must-have and unique Ford products and services. The collaboration between Google and Ford, in fact, establishes an innovation powerhouse to deliver a superior experience for the latter’s customers and modernize its business.
Ford’s biggest rival, General Motors had announced a deal in 2019 to integrate Google’s voice assistant and app ecosystem into its vehicles. However, Ford’s partnership with Google is much wider than the General Motors-Google deal.
Ford had considered several companies before finalizing Google as its preferred cloud provider. The automaker was specifically impressed with Google’s cloud services — an increasingly important technology for automakers as they begin updating vehicles remotely.
For Google, the deal brings in a big customer for its cloud computing technology, which trails behind rivals like Amazon (AMZN - Free Report) and Microsoft (MSFT - Free Report) in market shares. The deal marks a major victory for Google, which has been looking onto expanding its cloud computing business and become a larger force in the cloud market.
Notably, shares of Ford have appreciated 20.6% in the past year, while its industry has surged 225.2%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Image: Bigstock
Ford (F), Google Team Up for Cloud Services, Vehicle Connectivity
Ford (F - Free Report) recently entered into a six-year partnership with Alphabet (GOOGL - Free Report) owned Google, that will make the tech giant responsible for reinventing the connected vehicle experience aimed at accelerating the automaker’s current $11-billion restructuring plan.
Highlights of the Partnership
The alliance, effective 2023, will revolutionize virtually every element of the automotive business, from the way vehicles are designed, engineered and assembled to the way customers shop and then experience their vehicles. Google will also provide cloud computing and other technology services to the auto giant and build automotive technologies that keep people safe and connected on the road.
Per the deal, Google Cloud will become Ford’s preferred cloud provider, wherein the automaker will take advantage of Google’s world-class prowess in data, artificial intelligence (AI), and machine learning (ML) to accelerate its digital transformation and power connected vehicle technologies with the tech giant’s trusted, assured, and more reliable cloud. Google Cloud will enable Ford to enhance consumer experience by providing customized services. It will also accelerate modernization of operations, spanning from product development to supply-chain management, including the usage of vision AI for employee training and even sounder plant equipment performance. Ford is also planning to use the tech behemoth’s cloud to enable a system for sending customers real-time messages about maintenance or trade-in opportunities.
In fact, the deal encompasses integrating future Ford and Lincoln vehicles with Android, Google Assistant, Google Maps and Google Play. Android in the car will assist Ford and third-party developers to develop apps that constantly upgrade and personalize ownership experience. With Google Assistant, drivers can focus more on their driving by getting things done with just their voice. Google Maps will enable commuters to reach their destinations faster by providing real-time traffic information, automatic rerouting, lane guidance and much more. Google Play will give commuters access to their favorite apps for listening to music while driving, thus adding the component of in-car entertainment experience.
Per the alliance, employees from both companies will be part of a new group called Team UpShift. This team will leverage Google’s services and data expertise to better streamline Ford’s operations and create a more seamless experience for customers in order to aggravate the auto giant’s ongoing transformation.
Win-Win Deal for Both Ford and Google
Amid the heightening climate-change concerns, it has become imperative for automakers across the globe to provide green transportation solutions. Also, of late, there has been a push in the auto industry toward the development of autonomous vehicle technology. Amid this shifting scenario, Ford has been deeply committed toward its target to provide fully-electric and self-driving vehicles. The latest deal will help Ford pace up its endeavors and create a line-up of must-have and unique Ford products and services. The collaboration between Google and Ford, in fact, establishes an innovation powerhouse to deliver a superior experience for the latter’s customers and modernize its business.
Ford’s biggest rival, General Motors had announced a deal in 2019 to integrate Google’s voice assistant and app ecosystem into its vehicles. However, Ford’s partnership with Google is much wider than the General Motors-Google deal.
Ford had considered several companies before finalizing Google as its preferred cloud provider. The automaker was specifically impressed with Google’s cloud services — an increasingly important technology for automakers as they begin updating vehicles remotely.
For Google, the deal brings in a big customer for its cloud computing technology, which trails behind rivals like Amazon (AMZN - Free Report) and Microsoft (MSFT - Free Report) in market shares. The deal marks a major victory for Google, which has been looking onto expanding its cloud computing business and become a larger force in the cloud market.
Ford currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Notably, shares of Ford have appreciated 20.6% in the past year, while its industry has surged 225.2%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>