Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Google Inc. revealed its driverless car’s first finished prototype. The car’s design is not so different from the one the company first unveiled in May this year, but this new one is fully functional. The new undertaking of the company comes at a moment when Google is putting efforts into expanding reach outside its major search engine business and looking for alternative ways for generating revenue.

Google said in a statement, cited by Daily Mail: “Today we’re unwrapping the best holiday gift we could’ve imagined: the first real build of our self-driving vehicle prototype.” As reported by MarketWatch, the company also shared: “We’re going to be spending the holidays zipping around our test track, and we hope to see you on the streets of Northern California in the new year.”

The project of a self-driving car was first announced by the U.S.-based company four years ago. It was the first project to come from what would eventually be the Google X research and development lab.

The driverless car is not the first project of the lab, as the latter is also working on the smart eyewear called Google Glass, as well as on nanoparticles for cancer detection.

Google also revealed that the vehicle will be tested for a “while longer”. The company is considering whether to remove the temporary steering wheel and manual controls once given the green light by the California law.

Google is currently working on its own prototypes, but it is also looking for a partner to work in collaboration with in order to release its self-driving cars to the market in the next half a decade.

The company is to put the vehicle on a test track, including a simulation of busy city streets with traffic lights and construction zones.

Google Inc. was up 2.36% to close at $532.30 per share yesterday. The company is valued at $358.57 billion. According to CNN Money, the 43 analysts offering 12-month price forecasts for Google have a median target of $640.00, with a high estimate of $750.00 and a low estimate of $530.00. The median estimate represents a +20.23% increase from the last price of $532.30.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • GM bounces back to normal levelsGM bounces back to normal levels The General Motor Co. shares price came back almost to 2011 levels following the global economic picture recent months as it closed at $33.42 on Friday. The share price raise led investors to discuss a possible Treasury withdrawal from the […]
  • AUD/USD en route to three-year lows on rate prospectsAUD/USD en route to three-year lows on rate prospects Australian dollar reduced its value against its US counterpart on Monday, heading toward almost three-year lows on grown speculations that the Reserve Bank of Australia (RBA) might reduce interest rates in the next month.AUD/USD fell to a […]
  • Forex Market: USD/CAD daily trading outlookForex Market: USD/CAD daily trading outlook Friday’s trade saw USD/CAD within the range of 1.3793-1.3842. The pair closed at 1.3822, inching up 0.03% on a daily basis and following three consecutive trading days of losses. The daily low has been the lowest level since December 17th, […]
  • Intel shares fall for a fifth straight session on Monday, part of company’s 14nm chip production to be outsourced to TSMCIntel shares fall for a fifth straight session on Monday, part of company’s 14nm chip production to be outsourced to TSMC According to a report by DigiTimes on Monday, citing industry sources, Intel Corp intends to outsource part of its production of 14nm chipsets to Taiwan Semiconductor Manufacturing Company (TSMC), as it faces tight in-house process […]
  • Forex Market: EUR/USD daily trading outlookForex Market: EUR/USD daily trading outlook Yesterday’s trade saw EUR/USD within the range of 1.2500-1.2393. The pair closed at 1.2475, gaining 0.43% on a daily basis.At 8:22 GMT today EUR/USD was up 0.07% for the day to trade at 1.2483. The pair held in a daily range of […]
  • GM to unveil an all-electric Cadillac Escalade later in 2023GM to unveil an all-electric Cadillac Escalade later in 2023 General Motors Co said on Monday that it would unveil an all-electric variant of its flagship Cadillac Escalade later in 2023.The new SUV will be named Escalade IQ, GM said.The Cadillac Escalade IQ is expected to utilize the US […]