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UBER Launches Autonomous Food Delivery Pilot in California

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Uber Technologies (UBER - Free Report) and Motional, a driverless technology company, have launched a pilot program for autonomous food deliveries on the Uber Eats platform in Santa Monica, CA. With delivery demand rapidly growing, UBER’s move to launch autonomous services is prudent.

The partnership between Uber and Motional was first announced last December, marking the first on-road autonomous vehicle pilot on the Uber Eats network.

As part of the pilot, Motional is operating its all-electric IONIQ 5 vehicles to conduct end-to-end food deliveries. Participating merchants will receive a notification upon the arrival of Motional’s autonomous vehicle at the designated pick-up location. Merchants will have to place the order in a specially-designed compartment in the backseat of the vehicle. Similarly, the customer will also be alerted when the order arrives at the drop-off location. The customer can unlock the vehicle door through the Uber eats app and collect the order from the backseat.

The pilot project will help both Uber and Motional to learn about the integration of their technologies and consumer demand. It will also allow them to know about the additional autonomy features that might be needed to enable smooth autonomous deliveries. UBER plans to roll out the autonomous food-delivery service in Los Angeles and other cities in the near future.

Zacks Rank & Key Picks

Uber carries a Zacks Rank #3 (Hold). Some better-ranked stocks within the broader Computer and Technology sector are as follows:

Broadcom (AVGO - Free Report) carries a Zacks Rank #2 (Buy). The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 1.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of Broadcom have rallied more than 38% in a year.

Analog Devices (ADI - Free Report) carries a Zacks Rank #2. The company’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being approximately 6%.
Shares of Analog Devices have gained approximately 10% in a year.

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