Credit: Shutterstock photoAutoliv, Inc.ALV , the Stockholm, Sweden-based automotive safety company has planned to team up with Canberra, Australia-based Seeing Machines for developing driver monitoring systems (DMS) for autonomous vehicles. The collaboration between Autoliv and Seeing Machines, a pioneer in computer vision-based human sensing technologies, is expected to help lower distracted driver accidents.
Per a report by the National Highway Traffic Safety Administration, in 2015 alone, 3,477 people were killed, and 391,000 were injured, in motor vehicle crashes in the U.S. due to distracted drivers. The American Automobile Association also vindicates that 21% of crashes which led to death of a person, happened due to a drowsy driver.
Given this alarming situation, this collaboration is indeed very significant. The collaboration aims at developing a state-of-the-art DMS that can detect distracted and drowsy drivers. The DMS will involve precise measurement of eye and head position, attention and fatigue level of the driver. The technology will also give signal if a risky situation is noticed or about to happen.
Autoliv manufactures occupant restraint systems for automobiles and has a product portfolio primarily comprising safety airbags, seat belts and steering wheels. In the last three months, shares of Autoliv have underperformed the industry it belongs to. During this time period, shares of the company rose 1.5%, whereas the industry grew 5.9%.
Autoliv currently carries a Zacks Rank #3 (Hold).
A few better-ranked automobile stocks are Ferrari N.V. RACE , Fox Factory Holding Corp. FOXF and Cummins Inc. 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 .
Fox Factory has a long-term growth rate of 16%.
Cummins has an expected long-term earnings growth rate of 12%.
Ferrari has an expected earnings growth rate of 14.1% in the long run.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
