It was a banner week for the Driverless Transportation Weekly Stock Index (D20), which hit a new all-time high thanks to gainers like Volvo AB, while also welcoming a new stock into the mix.
This week the D20 welcomed Autoliv (NYSE:ALV) to the index. Autoliv replaces Mobileye (MBLY), which announced its purchase by Intel (INTC) on March 13, 2017 and completed the transaction in August.
Autoliv has 2016 revenues of $10 billion from the sale of passive and active automotive safety systems including components and systems required for driverless operation. Autoliv (ALV) marked its debut in the D20 by adding 3 percent to its value as its stock price jumped from $106.07 to $109.27 a share.
The D20 overall ended the week at a new all-time high by rising 2.1 percent and closing at 226.56. Its third consecutive “up” week also beat the Dow, which managed a 0.8-percent gain, and the S&P 500, which climbed 1.4 percent to close at 2476.55.
D20’s leading price percentage gainer was the Swedish truck and heavy equipment manufacturer, Volvo AB (STO:VOLV-B). Its price jumped 6.7 percent to close at 145.60 SEK on news that its cost-cutting efforts and construction equipment sales growth drove a 58 percent surge in its first quarter earnings.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Grab, Uber’s main rival in Southeast Asia, has announced that it has taken an investment from Toyota for an undisclosed amount. The investment comes from Toyota Tsusho, Toyota’s general trading company. There is a second element to the transaction in which Grab will share driving pattern data for 100 Toyota cars in Grab’s fleet that is collected by Toyota’s driving recorder, Translog. The large international automotive brands all seem to be buying into the ride-sharing industry. First, General Motors invested in Lyft. Volvo and Daimler Benz have partnered with Uber, and before Toyota’s investment, Honda had also invested in Grab.