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Technology Stocks : Driverless autos, trucks, taxis etc.
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From: Sam7/10/2018 6:12:34 PM
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Nvidia to test fleet of robotaxis with Daimler, Bosch
MARKETWATCH 6:11 PM ET 7/10/2018

Symbol Last Price Change
NVDA 253.25 +4 (+1.6%)
DDAIF 68.43 +0.04 (+0.06%)
QUOTES AS OF 04:00:00 PM ET 07/10/2018


Partnership hopes for fully autonomous taxis by early 2020s

Nvidia Corp. (NVDA) announced late Tuesday a partnership with German car maker Daimler AG(DDAIF) and auto-parts giant Bosch Ltd. on a robot taxi project that will begin testing in less than a year.

Under a partnership announced late Tuesday, Daimler (DAI.XE) and Bosch hope to use Nvidia's(NVDA) Pegasus AI chipset to power a fleet of Level 4 and Level 5 -- with the latter meaning fully autonomous -- taxis by "early next decade."

"It's happening very soon," Nvidia(NVDA) spokesman Hector Marinez said in a conference call Tuesday. "There's a lot of work that's been going on behind the scene, of course, before today's announcement. It's not like we're just starting today, so it's well along its way."

Nvidia (NVDA) said that it will begin testing the vehicles in Silicon Valley and Stuttgart sometime next year.

"That's the initial plan, but it will quickly evolve beyond that," Marinez said.

In a statement, Bosch said "Nvidia(NVDA) will provide its Drive Pegasus platform powered by high performance AI automotive processors along with system software that will process the vehicle-driving algorithms generated by Bosch and Daimler using machine-learning methods."

Financial details of the partnership were not disclosed.

Back in March, Nvidia(NVDA) said it was halting tests of self-driving cars on public roads (http://www.marketwatch.com/ story/nvidia-stock-drops-as-self-driving-test-halt-overshadows-annual-celebration-2018-03-27) following a pedestrian death involving an Uber Technologies self-driving vehicle in Arizona. In May, Nvidia(NVDA) Chief Executive Jensen Huang told MarketWatch (http://www.marketwatch.com/story/nvidia-ceo-says-self-driving-pause-tesla-model-3-issues-did-not-affect- auto-business-2018-05-10) the pause in self-driving auto tests was not holding the company's auto business back and that cars should be back out in public "pretty soon."

Nvidia (NVDA) stock has continued a long run higher this year on hopes for its autonomous-car unit and the performance of its server chips, both of which are fueled by graphics chips utilizing machine-learning techniques. Nvidia(NVDA) shares have gained 30.9% so far this year, while the S&P 500 index has increased 4.5%.

-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
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