Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  General Motors Corporation    GM

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

General Motors : GM more than doubles self-driving car test fleet in California

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/05/2017 | 03:55am CEST
The GM logo is seen at the General Motors Warren Transmission Operations Plant in Warren, Michigan

General Motors Co's (>> General Motors Corporation) self-driving unit, Cruise Automation, has more than doubled the size of its test fleet of robot cars in California during the past three months, a GM spokesman said on Wednesday.

General Motors Co's (>> General Motors Corporation) self-driving unit, Cruise Automation, has more than doubled the size of its test fleet of robot cars in California during the past three months, a GM spokesman said on Wednesday.

As the company increases the size of its test fleet, it has also reported more run-ins between its self-driving cars and human-operated vehicles and bicycles, telling California regulators its vehicles were involved in six minor crashes in the state in September.

"All our incidents this year were caused by the other vehicle," said Rebecca Mark, spokeswoman for GM Cruise.

In the past three months, the Cruise unit has increased the number of vehicles registered for testing on California streets to 100 from the previous 30 to 40, GM spokesman Ray Wert

said.

Cruise is testing vehicles in San Francisco as part of its effort to develop software capable of navigating congested and often chaotic urban environments.

Investors are watching GM's progress closely, and the automaker's shares have risen 17 percent during the past month as some analysts have said the company could deploy robot taxis within the next year or two.

A U.S. Senate panel approved legislation on Wednesday that would allow automakers to greatly expand testing of self-driving cars. Some safety groups have objected to the proposal, saying it gives too much latitude to automakers.

As Cruise, and rivals, put more self-driving vehicles on the road to gather data to train their artificial intelligence systems, they are more frequently encountering human drivers who are not programmed to obey all traffic laws.

In filings to California regulators, Cruise said the six accidents in the state last month involved other cars and a bicyclist hitting its test cars.

The accidents did not result in injuries or serious damage, according to the GM reports. In total, GM Cruise vehicles have been involved in 13 collisions reported to California regulators in 2017, while Alphabet Inc's (>> Alphabet) Waymo vehicles have been involved in three crashes.

California state law requires that all crashes involving self-driving vehicles be reported, regardless of severity.

Most of the crashes involved drivers of other vehicles striking the GM cars that were slowing for stop signs, pedestrians or other issues. In one crash, a driver of a Ford Ranger was on his cellphone when he rear-ended a Chevrolet Bolt stopped at a red light.

In another instance, the driver of a Chevrolet Bolt noticed an intoxicated cyclist in San Francisco going the wrong direction towards the Bolt. The human driver stopped the Bolt and the cyclist hit the bumper and fell over. The bicyclist pulled on a sensor attached to the vehicle causing minor damage.

"While we look forward to the day when autonomous vehicles are commonplace, the streets we drive on today are not so simple, and we will continue to learn how humans drive and improve how we share the road together,” GM said in a statement on Wednesday.

(Reporting by David Shepardson in Washington; Additional reporting by Joseph White in Detroit; Editing by Sandra Maler and Peter Cooney)

By David Shepardson

Stocks treated in this article : General Motors Corporation, Alphabet
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GENERAL MOTORS CORPORATION
10/18 Organizations Work to Reuse 2,500 Pounds of Scrap From Ohio River
10/18 GENERAL MOTORS : ZR2 Midnight and Dusk Editions Expand Choices in 2018 Chevrolet..
10/18 GENERAL MOTORS : Contributes $5 Million to Henry Ford
10/18 GENERAL MOTORS : Governor Cuomo Announces Cruise Automation Applying to Begin Fi..
10/18 GENERAL MOTORS : Ringling College opens three exhibits
10/17DJGENERAL MOTORS : GM Plans to Make Systems for Autonomous Cars
10/17DJGENERAL MOTORS : GM to Test Fleet of Self-Driving Cars in New York -- Update
10/17 GENERAL MOTORS : Contributes $5 Million to The Henry Ford
10/17 GENERAL MOTORS : GM donates $5 million to The Henry Ford
10/17 GENERAL MOTORS : GM Advances Self-Driving Vehicle Deployment With Acquisition of..
More news
News from SeekingAlpha
10/18 Effective Capital Allocation Is Driving GM's Electrification Surge
10/18 What To Do About Albemarle Corp.
10/18 Cruise Automation reported to be in talks with Uber
10/17 Will Tesla Be A Zero This Month?
10/17 New York a strong partner for Cruise Automation
Financials ($)
Sales 2017 148 B
EBIT 2017 11 420 M
Net income 2017 8 702 M
Finance 2017 8 319 M
Yield 2017 3,39%
P/E ratio 2017 7,55
P/E ratio 2018 7,74
EV / Sales 2017 0,39x
EV / Sales 2018 0,41x
Capitalization 65 604 M
Chart GENERAL MOTORS CORPORATION
Duration : Period :
General Motors Corporation Technical Analysis Chart | GM | US37045V1008 | 4-Traders
Technical analysis trends GENERAL MOTORS CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 42,1 $
Spread / Average Target -6,4%
EPS Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
Carol M. Stephenson Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GENERAL MOTORS CORPORATION31.69%65 604
TOYOTA MOTOR CORP1.58%201 465
DAIMLER-3.97%86 478
VOLKSWAGEN8.10%86 249
BAYERISCHE MOTOREN WERKE-1.67%66 826
HONDA MOTOR CO LTD0.65%55 268