The shares of Google Inc (NASDAQ:GOOGL) soared in excess of 2% yesterday closing at $532.30 with slight decline in the extended trading sessions. The search engine giant announced that its first driverless car is ready for the roads and it is likely to flaunt at the Silicon Valley streets next year.
The search engine giant announced its first complete driverless car yesterday with steering controls, software, sensors, brakes, and light ready for the road. Google Inc (NASDAQ:GOOGL) said in a statement,
“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 company announced use of temporary steering wheel in these cars for the sake traffic regulations, although the company plans to remove them after getting approval. Google said, “Our safety drivers will continue to oversee the vehicle for a while longer, using temporary manual controls as needed while we continue to test and learn.”
Google Inc (NASDAQ:GOOGL) plans to create 100 prototype cars with two buttons- stop and go. The cars will drive through GPS control, camera data, and sensors.
Sergey Brin, co-founder of Google, said earlier in May,
“The experience feels different. You’re just sitting there, no steering wheel, no pedals – for me it was very relaxing. In about 10 seconds after getting in, I forgot I was there. It reminded me of catching a chairlift by yourself, a bit of solitude I found really enjoyable.”
The shares of Google Inc (NASDAQ:GOOGL) are trading at $532.30 with current P/E ratio of 26.98 and market cap of $351.59 billion. Shares of the company have declined nearly 5% year-to-date. Earlier this year, Ford Motor Company (NYSE:F) released its first self-driving with the ability to take up to 2.5 million measurements every second.
This article has been written by Prakash Pandey.