Per Bloomberg, Nissan Motor Company (NSANY - Free Report) is planning to unveil its autonomous vehicles in the market by 2022. This is an initiative by the Japanese auto company to emerge as a key player in the driverless automotive technologies.
Nissan aims to pursue a step-by-step method of adding autonomous-driving functions in its cars. First the company will allow its cars to switch to a single-lane driving on its own and later shift to navigating urban roads, which include intersections by 2020.
Many major players as well as new auto manufacturers have been gearing up to introduce their self-driving vehicles in the market. Nissan’s recent decision on this front confirms its presence as an active member in the race, among its peers.
Nissan Motor Co. Price and Consensus
In Japan, Nissan introduced three models with semi-autonomous features and all have been well-received in the market. The models include Serena minivan, the X-Trail SUV and the newly-launched Leaf electric car, each enabled with single-lane diving and auto parking capacities.
Further, by the early-2020s, the company intends to initiate robot-taxi rides in Japan. Come March, it has plans to test autonomous ride-hailing services on the roads of Japan. For this trial, two Leaf electric cars will be equipped with cameras, sensors and self-driving software developed by DeNA Company, a Japanese set-up that provides a wide variety of mobile and online services.
In the last six months, shares of Nissan have underperformed the industry it belongs to. The stock has declined 2.3% versus the industry’s 16.9% rally during the period.
Zacks Rank & Stocks to Consider
Nissan has a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the auto space are AB Volvo (VLVLY - Free Report) , BorgWarner (BWA - Free Report) and Wabco Holdings Inc. (WBC - Free Report) . While Volvo sports a Zacks Rank #1 (Strong Buy), BorgWarner and Wabco carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Volvo has an expected long-term growth rate of 15%. In the last six months, shares of the company have been up 25%.
BorgWarner has an expected long-term growth rate of 9%. In the last six months, shares of the company have been up 10.1%.
Wabco has an expected long-term growth rate of 15%. In the last six months, shares of the company have been up 12.7%.
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