Ford Motor Company (F - Free Report) collaborated with Virginia Tech Transportation Institute to test ways that will assist autonomous cars to easily communicate with pedestrians, human drivers and bicyclists. This was an effective attempt to create normal visual language that people can instantly understand.
The company believes that developing a way to connect is essential for self-driving cars since hand waves or head nods cannot be used in this scenario.
Ford’s effort via this project was to ensure that autonomous vehicles can safely share the road with humans.
Ford Motor Company Price and Consensus
The researchers came to a conclusion that light signals are the most helpful means of visual communication for driverless cars. The way light signals are widely used to indicate turning or asking to put the brakes on for stopping vehicles, similar technology will aid self-driving vehicles to determine if they are going to halt or begin to accelerate from a stop.
The company has been working on ways to bring autonomous vehicle technology to the market. Also, it will be adding several driver-assist features to its vehicles within the next three years. In February 2017, Ford announced plans to invest around $1 billion over the coming five years in Argo AI — an artificial intelligence company. The investment will be utilized to develop the virtual driver system for Ford’s autonomous transport.
Ford’s shares have gained 7.2% over the last month, outperforming the 4.3% increase of the industry it belongs to.
Zacks Rank & Key Picks
Ford currently carries a Zacks Rank #3 (Hold).
A few better-ranked automobile stocks are Toyota Motor Corporation (TM - Free Report) , Daimler AG (DDAIF - Free Report) and Ferrari N.V. ((RACE - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Toyota has a long-term growth rate of 7%.
Daimler has a long-term growth rate of 2.8%.
Ferrari has an expected long-term earnings growth rate of 14.1%.
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