Joe Expert

Joe Expert

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Google share price kicks into gear

28 May 2014

Google Inc. has revealed that it is designing and developing self-drive vehicle technology. Co-founder Sergey Brin’s vision for the future of motor transport encompasses safer, more efficient transport. In an official statement made to Bloomberg today Brin remarked “Within a couple of years I hope we will surpass the safety metrics we've put in place... and we will start testing them without drivers and hopefully you'll be able to utilize them at some limited cities".

The current prototype does not have a steering wheel, accelerator or brake; the model simply has two controls: a start button and an emergency ‘e-stop’ switch. Presently travelling at a maximum speed of 25 miles per hour, Brin envisages that the vehicles could reach speeds of up to 100 m/hr given the sufficient safety measures. Google has set a goal of manufacturing 100-200 of these test cars, which carry two passengers are gondola-like in appearance. The project has been ongoing for the past four years across Detroit, California and Germany.

Elsewhere, Google is reportedly considering a move for connected camera-maker Dropcam. A start up company, Dropcam produces home surveillance cameras costing just $150. The device uses internet connectivity to stream security footage to phones and computers. It is understood that Google would incorporate Dropcam as part of Nest Labs, its $3.2 billion January acquisition. The move would see Google foray even further into the smart home market. Google shares have performed particularly well over the past 5 days with its Class A and C shares gaining 5.2% and 2.8% respectively. Wall Street has responded well these recent insights into Google’s future. Insurance companies will be tuning in closely to ‘self-drive’ developments considering the potential loss of business they would incur. Find the tightest fixed spreads on Google stock at individual-shares.    

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Joe Expert

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