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News Roundup: India Says ‘No’ to Self-Driving Cars, Two Companies Plan Cross-Border Road Test for Driverless Cars, and More

Jennifer van der Kleut

A roundup of recent headlines to come out of the driverless and connected-car industries this past week:

India says No to driverless cars over fear of job losses

India’s transport minister, Nitin Gadkari, told news outlets this past week that driverless cars will not be allowed in India anytime soon, due to the number of job losses it could lead to. Gadkari said India’s unemployment rate is still too high to risk losing jobs to automated vehicles. As it is currently, he said the country is in need of at least 100,000 more commercial drivers and he looks forward to being able to provide the Indian people with so many available jobs. In addition, India officials estimate that the amount of infrastructure changes that would be needed to prepare India for self-driving cars would be far too expensive given the nation’s current economy. Gadkari did say he would not rule out the technology altogether in the future if India’s situation improves. Read more from BBC News.

 

Manhattan proposal wants to transform cross-island highways into roads exclusively for driverless vehicles

Manhattan-based architecture firm Edg has proposed a bold project that they say would reduce urban pollution and congestion in Manhattan and make some major roadways on the island exclusive to driverless cars. The proposal, called “Loop NYC,” wants to take major roadways that cut across the island-namely, 14th, 23rd, 34th, 42nd, 57th, 86th and 110th streets-and turn them into roads that are exclusive to driverless cars. Edg says this could cut down traffic time from the current 40 minutes it takes to drive a loop from Grand Central Station to Lower Manhattan and back down to just 11 minutes, with traffic flowing more smoothly thanks to self-driving vehicles. In addition, Loop NYC wants to create enormous green spaces and pedestrian bridges that would cross over the driverless roadways and would be exclusive to pedestrians and bicyclists, improving beauty while reducing pollution, as well as increasing the city’s walkability. As expected, the proposal is still “largely speculative” in nature, particularly given the fact that the federal government still has not approved a nationwide set of laws and regulations for driverless cars. Read more about Loop NYC on ArchDaily.

 

Two companies plan road test for driverless cars across the border from the U.S. into Canada

Two major companies working on driverless vehicle technology, Continental and Magna, are teaming up for a whopper of a road test. The two companies plan to send self-driving cars across the border from Michigan into Sarnia, in Toronto, Canada. The cars will reportedly cross the border at two locations-through the tunnel from Detroit into Windsor, and crossing the Blue Water Bridge into Sarnia. Reps say the cars’ “driverless mode” will be enabled whenever possible but will likely include a few instances when the driver will take over control. They add, crossing an international border makes for incredibly unique driving conditions, which will allow Continental and Magna to collect a lot of valuable data from the cars’ cameras, LiDAR and radar. In addition, the test will reveal future hurdles when it comes to crossing the borders of two different countries with two different sets of laws and regulations. Read more from TechCrunch.

Image: Loop NYC rendering by Edg

Renesas Leads Pack of Five Losers for Big Drop in D20 Stock Index

Led by Renesas, five Driverless Transportation Weekly Stock Index (D20) constituent stocks lost more than 5 percent last week, prompting the D20 to take a nose dive for 3.63 points this week, closing at 181.87.

The D20’s 2-percent loss allowed the Dow, which jumped 1 percent, and the S&P 500, which gained 0.7 percent, to outperform the D20 for the third consecutive week.

Although the D20 had 10 price gainers and 10 price losers, the not-so-fabulous five of Blackberry (BBRY), Magna (MGA), NVIDIA (NVDA), Tesla (TSLA), and Renesas (TYO:6723) drove the D20 to a significant loss.

There seemed to be no central theme for the five losing stocks. Blackberry lost 5.5 percent after announcing its new KeyOne smartphone. Magma missed earnings expectations and dropped 5.4 percent, and profit-taking continued to eat away at NVIDIA’s stock price as it also lost 5.4 percent this week.

Tesla dropped 5.6 percent even though its earnings announcement showed double the revenue from a year ago and a narrowed earning-per-share loss. Renesas lost a whopping 9.5 percent on news that it was close to completing an acquisition of Intersil.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.

Up-and-Comers:

Waymo, Alphabet’s (GOOG) driverless car division, is suing Uber and Otto for theft of trade secrets. Otto, which is owned by Uber and founded by Anthony Levandowski, stands accused of stealing Waymo’s trade secrets surrounding the LiDAR technology that Waymo pioneered. Levandowski, who led Google’s driverless efforts before it was named Waymo and left in 2015, started Otto in early 2016.

D20 Stock Index Closes Out 2016 With a Slight Dip

The Driverless Transportation Weekly Stock Index (D20) retreated from an all-time high and three consecutive weeks of gains by dropping 2.41 points, or 1.4 percent, to close the week (and the year) at 174.04.

Fourteen price losers and only six price gainers ensured that the D20 followed the Dow, which slumped 0.9 percent, and the S&P 500, which fell 1.1 percent.

Mobileye (MBLY) had a great week, closing the year by announcing that it had partnered with HERE to provided crowd-sourced High Definition (HD) mapping.  Its stock rose 9.73 percent to close at $38.12.  Audi, Mercedes and BMW purchased HERE, a detailed mapping data provider, from Nokia in early 2016.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.

Up-and-Comers:

Automile, a Palo Alto-based startup, has secured $7.5 million in Series A funding to build out and expand its fleet logistics and management business.  It is a telematics play allowing fleet managers to easily install a device under the dash to report back mileage logs, trip statistics, real-time location tracking and accident alerts, as well as plan predictive maintenance.

D20 constituent company, Magna (MGA) has teamed up with LiDAR-maker Innoviz to complete its suite of sensing technologies for driverless vehicle systems.  Innoviz is developing a solid-state LiDAR system that has a target cost of $100 per unit and a small physical footprint.  Magna is a key Tier 1 supplier to almost every major automaker.

The D20 Follows the Dow Down

Driverless Transportation

In a down week for both the Dow and S&P 500 indexes, the Driverless Transportation (D20) Stock Index lost 4.2 percent of its value and ended the week below 160 at 156.74. The Dow lost 3.26 percent to finish at 17265.21 while the S&P 500 lost 3.79 percent, closing the week at 2012.37.

It was almost a total rout for the D20 with only one stock, Volkswagen (VLKPY), finishing with a higher price this week. Volkswagen got some good news with the announcement that a consortium of 13 banks has offered it loans totaling $30.6 billion to help the auto OEM weather “diesel-gate.” Volkswagen climbed 1 percent, ending the week at $28.20.

With 19 stocks firmly in the red, D20’s leading loser this week was Volvo (VOLVY). The Swedish truck manufacturer lost nearly 9 percent to close the week at $9.02. Following closely on Volvo’s heels were Magna (MGA), dropping 7.4 percent, and Delphi (DLPH), recording a loss of 6.7 percent.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.

D20 Stock Index week ending October 23, 2015

GM Takes D20 Over 160

Driverless Transportation

The Driverless Transportation (D20) Stock Index broke the 160 barrier for the first time ever, finishing at 160.77 last week. For the fourth consecutive week, the D20’s 2.9 percent gain outpaced the 2.5 percent gain in the Dow Jones Industrials and the 2.1 percent rise in the S&P 500 Index. The D20 saw 17 stocks finishing higher while three declined.

This week’s largest loser was Tesla (TSLA) down 7.9 percent on news that Consumer Reports held back its rating on the Model S owing to reliability concerns. Tesla finished the week at $209.09, its lowest point since mid-April 2015. On the driverless front, Tesla announced the release of its Autopilot update for the Model S. The reviews of the software update for existing cars are mostly positive, but some users have complained that the Model S takes turns too fast in Autopilot mode.

D20 Stock Index versus Dow Jones Index versus S&P weekly change ending week of October 23, 2015On the bright side, General Motors (GM) posted its fourth consecutive weekly gain by adding 8.5 percent and ending the week at $35.95 a share. Most of the jump was due to GM’s surprisingly positive third-quarter earnings announcement. GM has adopted a quiet but aggressive plan to develop “self-driving” cars.

Other D20 stocks that put in strong showings last week were Alphabet (GOOG) up 6.0 percent, Continental (CTTAY) up 6.9 percent, Magna (MGA) up 6.0 percent, and Valeo (VLEEY) up 6.2 percent.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks