May 27, 2017

Ford invests big in self-driving cars

Richard Drew / AP

Barron's cover story, "Ford Races Toward an Exciting Future: New CEO Jim Hackett looks like an inspired choice to rev up Ford's self-driving car efforts and lift its stock," by Jack Hough (free link for Axios readers):

  • "Over the next five years, Ford stock has an excellent chance of outperforming Tesla."
  • "Eight companies have plans to bring fully self-driving cars to market within the next five years."
  • "IHS Markit, a research group, predicts 32% market penetration of highly autonomous cars by 2035."
  • Driverless taxis (Uber and Lyft in the U.S., GrabTaxi in Singapore) could roll out services in coming years "costing $1 a mile, which compares favorably with the cost of car ownership."
  • "Gross revenues for Uber, Lyft, and others more than doubled last year to $36 billion. By 2030, they could multiply another eight times."

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Illustration: Eniola Odetunde/Axios

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  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 4,811,128 — Total deaths: 157,690 — Total recoveries: 1,528,979 — Total tests: 58,239,438 — Map.
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  4. Business: America's next housing crisis.
  5. States: Virginia launches contact tracing app using specs from Apple and Google.
  6. Politics: White House, Democrats remain "trillions of dollars apart" on stimulus talks.
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White House, Democrats remain "trillions of dollars apart" on stimulus talks

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The state of play: Meadows told reporters, "At this point we’re either going to get serious about negotiating and get an agreement in principle or — I’ve become extremely doubtful that we’ll be able to make a deal if it goes well beyond Friday.”

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