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Report: Google looking to develop its own self-driving cars

  • Jessica Lessin reports Google (GOOG -0.4%), which thus far has focused on developing self-driving systems that could be sold to 3rd-party automakers, is now working on "designing and developing a full-fledged self-driving car," and has held talks with potential contract manufacturers.
  • In addition to selling these cars to individuals, Google is said to be interested in enabling "robo-taxi" services that can be requested by passengers on-demand. It's worth noting Google just made a $258M investment in Uber.
  • A German paper has reported (translation) Google is close to a deal with auto parts maker Continental AG (named by Lessin as a possible contract manufacturer) to produce a self-driving system.
  • One source suggests Google is trying to pressure automakers lukewarm about building self-driving cars to step up their efforts. Google's current test cars (modified Toyota vehicles) reportedly cost $150K apiece.
  • Eric Schmidt mentioned last month Google has talked to "every single car company" about its self-driving systems. Gene Munster has made some gaudy forecasts about the business' long-term potential.
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Comments (12)
  • gold666
    , contributor
    Comments (8) | Send Message
     
    How anyone can just walk around not owning google stock is just incomprehensible to me. If I did not own any google stock, stuff like this would cause me to immediately buy some in a panic.
    23 Aug 2013, 04:28 PM Reply Like
  • Doyle3000
    , contributor
    Comments (1431) | Send Message
     
    Minority Report, I Robot, The Jetsons - it's all coming our way!

     

    Think of the traffic flow with self driving cars! The car insurance companies are going to lobby very hard against this.
    23 Aug 2013, 04:30 PM Reply Like
  • cowboy4576
    , contributor
    Comments (187) | Send Message
     
    Right Doyle! Who's going to be liable when there is accidents? Would your driving record matter? Definitely an insurance nightmare!
    24 Aug 2013, 02:21 AM Reply Like
  • LarryBlumen
    , contributor
    Comments (271) | Send Message
     
    Wrong, cowboy! With self-driving cars, the accident rate will go way down as the number of human drivers behind the wheel decreases to zero. Virtually all vehicle accidents are caused by human beings.
    24 Aug 2013, 10:49 AM Reply Like
  • Doyle3000
    , contributor
    Comments (1431) | Send Message
     
    Hence the huge lobby against these by the motor insurance organizations. why would premiums need to be so high for teenage drivers if they aren't driving?
    24 Aug 2013, 12:05 PM Reply Like
  • cowboy4576
    , contributor
    Comments (187) | Send Message
     
    For a "zero" accident rate, the switch to- no drivers behind the wheel would have to happen all at once, which is an impossibility.
    24 Aug 2013, 12:26 PM Reply Like
  • Jake2992
    , contributor
    Comments (831) | Send Message
     
    This is why the lame "tesla will never have any competition" argument is beyond stupidity. If google actually puts any amount of effort behind this they would blow TSLA out of the water and bankrupt them.
    23 Aug 2013, 04:33 PM Reply Like
  • PeteE
    , contributor
    Comments (45) | Send Message
     
    Just what we need. The government controlling and tracking all our movements. Pretty soon driving yourself where you want to go will be illegal without special approval. No thanks. Might be good for Californians though.
    23 Aug 2013, 05:52 PM Reply Like
  • Eric Dinky
    , contributor
    Comments (5) | Send Message
     
    Yes PeteE, in the name of freedom all will be caged. Going back to basics is the reversal to our future.
    24 Aug 2013, 02:41 PM Reply Like
  • LarryBlumen
    , contributor
    Comments (271) | Send Message
     
    Google should partner with Tesla. Elon Musk and the Google boys share the same DNA.
    24 Aug 2013, 10:51 AM Reply Like
  • icebiker76
    , contributor
    Comments (6) | Send Message
     
    I look forward to giving up the hassle of car ownership. I make an appointment using my phone to get from point A to B, and the car picks me up. no smelling like gas , no repairs, no wasting hours of my life driving. Cant wait.
    24 Aug 2013, 02:41 PM Reply Like
  • Morrison International Acco...
    , contributor
    Comments (470) | Send Message
     
    Amazing...

     

    I do not recommend stocks much, but when I do, one is Google. It is that fundamental feeling. I do not care what the price is now, they are doing so much stuff that they do not talk about.

     

    The most powerful search engine in America, cataloging more info than any database in the world.

     

    Wonder who may have some interests in that?

     

    There are many!

     

    Who cares if they are losing search, that is just the way to make money now (I think it is 85% ads, which is very dangerous). In the future, Google will be the most advanced company ever in computers. It looks like they are moving from a search to a overall tech company.

     

    If you had a short in DELL, HPQ or CSCO to hedge, you hit the jackpot.

     

    They also have the best IR department. Info is plentiful on this baby. No ringy dingy websites for themselves.

     

    Google has some of the smartest people on earth working with them, that is attractive to think about.

     

    If you want equity exposure this guy seems to fulfill growth needs, while not dropping as much as the rest of Tech, whom has been truly blowing wind now. CSCO, HPQ and others.
    24 Aug 2013, 05:56 PM Reply Like
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