Volkswagen Kick Starts Autonomous Driving Test Program In US
Portfolio Pulse from Nabaparna Bhattacharya
Volkswagen AG is initiating its first autonomous vehicle test program in Austin, Texas, in July 2023, with a fleet of 10 all-electric ID Buzz vehicles. The company has partnered with Mobileye Global Inc. for the development. The vehicles will be equipped with cameras, radar, and lidar technology. Volkswagen plans to expand its test fleet in Austin and at least four more American cities over the next three years. The company expects a commercial launch of autonomous driving vehicles in Austin by 2026.
July 06, 2023 | 4:12 pm
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NEUTRAL IMPACT
Volkswagen's initiation of its autonomous vehicle test program, in partnership with Mobileye, could potentially boost its position in the autonomous vehicle market. However, the company's shares are currently trading lower.
The news of Volkswagen starting its autonomous vehicle test program is directly related to the company and its future prospects. However, despite this positive development, the company's shares are trading lower, indicating a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Mobileye Global Inc. is partnering with Volkswagen for the development of its autonomous vehicle test program. This partnership could potentially enhance Mobileye's reputation and market position in the autonomous vehicle technology sector.
Mobileye's partnership with Volkswagen for the development of its autonomous vehicle test program is a positive development for the company. This could potentially enhance Mobileye's reputation and market position in the autonomous vehicle technology sector, indicating a likely short-term positive impact on its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75