GOOG: Report: Google looking to develop its own self-driving cars

Report: Google looking to develop its own self-driving cars • 4:19 PM

• Jessica Lessin reports Google (GOOG -0.4%), which thus far has focused on developing self-driving systems that could be sold to 3rd-party automakers, is now working on "designing and developing a full-fledged self-driving car," and has held talks with potential contract manufacturers.
• In addition to selling these cars to individuals, Google is said to be interested in enabling "robo-taxi" services that can be requested by passengers on-demand. It's worth noting here Google just made a $258M investment in Uber.
• A German paper has reported (translation) Google is close to a deal with auto parts maker Continental AG (named by Lessin as a possible contract manufacturer) to produce a self-driving system.
• One source suggests Google is trying to pressure automakers lukewarm about building self-driving cars to step up their efforts. Google's current test cars (modified Toyota vehicles) reportedly cost $150K apiece.
• Eric Schmidt mentioned last month Google has talked to "every single car company" about its self-driving systems. Gene Munster has issued some gaudy forecasts about the business' long-term potential.

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