Delphi (DLPH), Innoviz Tie Up For Self-Driving Solutions

Delphi Automotive PLC (NYSE:DLPH) , Gillingham, England-based manufacturer of vehicle components and supplier of technology for automotive and commercial vehicles, has teamed up with Israel-based Innoviz Technologies for enhancement of vehicle safety for the self-driving cars. Notably, before tying up with Innoviz Technologies, which develops advanced remote-sensing solutions for mass commercialization of autonomous vehicles, Delphi made a minor investment in that company.

Notably, automakers are now putting tremendous efforts to build self-driving cars. These companies are investing in sensors that aid cars navigate on roads with potholes and pale lane markings.

Innoviz’s LiDAR remote-sensing solutions enable self-driving cars to spot objects at far distances. This in turn allows cars to travel safely at high speed. In fact, several self-driving experts are now considering LiDAR a vital component, alongside other sensors such as radar and camera.

Notably, in June 2017, Delphi entered into a partnership with Transdev to set up a self-driving, on-demand transportation service by this year. Both companies will be using automotive supplier’s automated driving technology for the project, which will also be Europe’s foremost self-driving vehicle service for public roads.

Over the past six months, shares of Delphi have outperformed the industry it belongs to. Shares of the company have increased 21.2% compared with the industry’s growth of 7.5%.



Delphi currently carries a Zacks Rank #3 (Hold).

A few better-ranked automobile stocks are Ferrari N.V. (NYSE:RACE) , Fox Factory Holding Corp. (NASDAQ:FOXF) and Cummins Inc. (NYSE:CMI) . While Ferrari N.V. sports a Zacks Rank #1 (Strong Buy), both Fox Factory Holding and Cummins carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Ferrari has an expected earnings growth rate of 14.1% in the long run.

Fox Factory has a long-term growth rate of 16%.

Cummins has an expected long-term earnings growth rate of 12%.

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