Ford Motor (F): Targeting Autonomous Vehicle Mass Production in 2021 - Deutsche Bank
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Deutsche Bank analyst, Rod Lache, reiterated his Hold rating on shares of Ford (NYSE: F) after the company announced that they are targeting Mass Production of their first Fully Autonomous Vehicle by 2021, which would put them at the leading edge of companies deploying this capability.
Ford also announced that they are augmenting their internal technical capabilities through acquisitions (Ford acquired SAIPS, an Israeli computer vision/machine learning company), investments (Velodyne, Civil Maps), and licenses (Nirenberg). The analyst believes bringing these capabilities in house will prove valuable over the long term.
The analyst estimated that a passenger car unit placed into on-demand autonomous mobility service could add >$15,000 to annual recurring EBIT. Based on this model, Ford could theoretically generate $1.4 bn recurring EBIT per year if they deployed just 1% of their North American volume into this market.
No change to the price target of $14.00
Shares of Ford closed at $12.34 yesterday.
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