- General Motors Co (NYSE:GM) and Ford Motor Co (NYSE:F) sought exemptions to deploy a limited number of self-driving vehicles without human controls like steering wheels and brake pedals.
- The National Highway Traffic Safety Administration (NHTSA) grants petitions to allow a limited number of vehicles to operate on US roads without required human controls.
- Both automakers look to deploy up to 2,500 vehicles a year, the maximum allowed under the law, for ride-sharing and delivery services.
- Also Read: GM Backed Cruise Is Giving Google, Tesla A Run For Their Money
- In February, GM and its autonomous technology unit Cruise petitioned NHTSA seeking permission to deploy self-driving vehicles without steering wheels, mirrors, turn signals, or windshield wipers. GM aims to deploy the Origin, a vehicle with subway-like doors and no steering wheels.
- Ford submitted a petition in July 2021. Ford sought to deploy a self-driving ride-hailing and package delivery vehicle by this decade.
- GM looks to spend $2 billion on its self-driving taxi fleet Cruise this year.
- Cruise was ahead of Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ:GOOGL) Google in offering free rides in its fully autonomous vehicles in February. Cruise also bagged approval for monetizing the rides in early June.
- Amazon.com Inc (NASDAQ:AMZN) also looks to tap the budding market via self-driving technology firm Zoox.
- Photo via Wikimedia Commons
Scott Minerd Sees Another 20% Downside For Market By Mid-October — Warns Of More Pain
The recovery seen after the mid-June lows led analysts and investors into believing that the market may have bottomed. It was not to be, though. What Happened: Following a nice rebound that lasted until mid-August, the market has hit another rough patch amid interest rate worries.
An analyst now anticipates more pain ahead in the coming months.
