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On December 29th, Moneyfarm analyst Richard Flax stated in a report that the U.S. economy is projected to experience robust growth until 2026. He said that substantial investment in the artificial intelligence industry, the Federal Reserves interest rate cuts, and government support are likely to fuel economic growth. This growth is expected to boost earnings for U.S. companies. Richard Flax stated, "The macroeconomic backdrop appears favorable, although this largely depends on the continued momentum of investment in artificial intelligence."On December 29th, it was reported that on December 26th, the National Energy Administration held a symposium in Kunming, Yunnan Province, on promoting the construction of a high-quality charging infrastructure system by 2025. The meeting emphasized that the next step is to solidly implement the "Three-Year Doubling" action plan for electric vehicle charging facility service capacity by improving facilities, enhancing services, and strengthening safety, thereby accelerating the construction of a high-quality charging infrastructure system. This includes improving the charging infrastructure service network, increasing the coverage of charging facilities in key scenarios such as residential areas and rural areas; optimizing the service efficiency of charging infrastructure, promoting the planning and construction of high-power charging facilities; focusing on improving the quality of charging operation services and effectively protecting consumer rights; accelerating the cultivation of a healthy and positive industrial ecosystem and further promoting the large-scale application pilot of vehicle-to-grid interaction; and strengthening the safety management of charging infrastructure to prevent and resolve safety risks in the charging sector.U.S. Geological Survey: A 5.1-magnitude earthquake struck 115 kilometers south of Kokopo, Papua New Guinea.On December 29th, Changan Automobile announced its plan to issue 630 million A-shares to a specific target, China Changan Automobile, which will subscribe for all shares in cash. Prior to this equity change, China Changan Automobile held 35.07% of the companys shares; after the change, its shareholding will increase to 38.95%. This equity change will not result in a change of the companys controlling shareholder or actual controller. The issuance is subject to several conditions, including approval from the State-owned Assets Supervision and Administration Commission, approval from the companys shareholders meeting, approval from the Shenzhen Stock Exchange, and registration approval from the China Securities Regulatory Commission.Bahrain announced fiscal reforms and approved a new corporate income tax law for local companies.

Argo Tests Driverless Vehicles on The Streets of Miami And Austin

Aria Thomas

May 18, 2022 10:01

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Tuesday, self-driving firm Argo AI said that its employees would be transported in driverless vehicles through the streets of Miami, Florida and Austin, Texas, with commercial applications to come at an indeterminate period.


Argo, which is supported by Ford Motor (NYSE:F) Co and Volkswagen AG (OTC:VWAGY), has tested its robotaxis on public roads in both cities for a number of years, although safety drivers have always been present.


"Argo is the first to go driverless in two major American cities, securely operating among high traffic, pedestrians, and bikers in the busiest districts," said Bryan Salesky, chief executive officer of Argo AI.


The startup permits ride-hailing, delivery, and logistics firms to integrate its autonomous vehicles into their operations.


A spokesperson for Argo AI stated that ride-hailing service Lyft Inc (NASDAQ:LYFT) and retail-grocery chain Walmart (NYSE:WMT) Inc were incorporating the technology in trial programs.


"Our driverless operations are initially focused on performing employee rides utilizing our in-house designed ride hailing test software," the spokesperson explained. We will integrate driverless vehicles into commercial operations when the time is right.


Lyft, which sold its own autonomous driving technology company a year ago, joined with Argo AI and Ford in July. By providing routing, customer interface, and fleet management services, the ride-hailing company plans to "get the maximum amount of income" from the robotaxis.


Walmart said in September that it would launch an autonomous car delivery service in Miami, Austin, and Washington, D.C. in partnership with Argo AI and Ford.


Self-driving businesses have frequently delayed timeframes for providing genuinely driverless rides on a large scale, with only a handful of limited fully autonomous programs available in the United States.


Human drivers account for around 80% of the per-mile cost of conventional ride-hailing services. Self-driving businesses must recoup billions of dollars in development expenditures and determine how to efficiently grow, manage, and repair vehicle fleets.

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