The drive for self-driving seems to have taken over the automotive market. In the recent past, Uber has been viewed as one of loudest in terms of market presence. Surprisingly though, it is Ford Motor Company (NYSE:F) that is leading the race.
The annual survey categorized 18 different companies within 10 different criteria. Strategy, core tech development, manufacturing capability and staying power were among the many criteria. The study by Navigant Research gave Michigan-based Ford an 85-point score, which was based on the company’s strategy of storming the autonomous vehicle market.
Ford’s edge on Strategy gives it the overall claim
Ford’s investment and M&A strategy has been incredible and was one of the convincing reasons as to why it was given the top ranking. There has been a lot of teamwork within the company, which has also invested not less than $1 billion in self-driving car startup Argo AI. It has also spent considerably on acquisitions of Civil Maps, Saips, Velodyne and Chariot.
In response to the new ranking, the company’s Vice President of Product Development Raj Nair outlined, “I’m proud of the work our team is doing to lead the self-driving revolution, and we are honored by the recognition that we’re getting along the way.”
Tesla Inc (NASDAQ:TSLA) and Uber came in outside of the top 10
Tesla has been doing well with the surprise of new technology every now and then. However, the automaker lost points from the fact that it does not useLiDAR– a type of laser sensor, which allows cars “see” the road. It landed in the 12th position while Uber, which scored low in the report’s “staying power” category, took the 16th position.
The research report also points out that Uber not only has a limitation in its distribution network but also a history of losing money. It has also been in the record for sidestepping regulations covering taxi services. All eyes are now on Ford for the next move it is likely to take. In the meantime, Ford’s stock closed at $11.44 a fall of $0.20 or 1.72%.