Self-driving cars include vehicles equipped with advanced sensors, cameras, and AI algorithms, that can navigate, make decisions, and drive without human intervention. Ranging from partial to full automation, these vehicles aim to revolutionize transportation by improving safety, reducing traffic congestion, and providing mobility solutions for those unable to drive. Self-driving cars have the potential to improve safety and efficiency as automated vehicles may significantly reduce road accidents caused by human error. The potential market of autonomous vehicles is projected to grow exponentially in the coming decades and disrupt the automotive and transportation industries.
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Tesla Faces A Tough Road Ahead As Stock Closes Down 12% After Declining Revenue And Disappointing Earnings Results
Ford Motor plummeted during trading, with a second-quarter profit plunge of 26% far lower than expected, and full-year guidance not raised.
In the second quarter, Ford's revenue increased by more than 6%, and EPS profits decreased by 35% year-on-year, which is much lower than expected. The EBIT profit of commercial vehicles is more than twice that of fuel vehicles, while the increase in car warranty reserves has affected profits. The electric vehicle business lost more than $1 billion per quarter in the first half of the year, and Ford still expects the business to lose as much as $5.5 billion for the whole year. The full-year free cash flow guidance has been raised by $1 billion, but the full-year EBIT profit guidance has not been raised, disappointing investors.
US stock market opening: New Oriental fell about 4%, Ford Motor fell about 14%, and golden industrial concept stocks fell generally.
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