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Jefferies Positive On Potential Alphabet-Honda Deal Over Self-Driving Cars

Jefferies is positive on an announcement from Honda Motor Co Ltd (ADR) that it has entered into formal discussions with Alphabet Inc 's Waymo over integration of its self-driving technology with Honda vehicles.

Way More Progress With Waymo

The news comes just a week after Alphabet announced it is spinning out its self-driving car project into a new company called Waymo. Alphabet is investing heavily in self driving technology and has logged over 2 million driverless pre-mapped miles (and another billion in simulation) since testing began back in 2009.

The potential deal could allow Waymo to deploy its self-driving sensors and software in Honda vehicles.

“The news supports our expectation that Waymo will be focused on technology with the potential to license to vehicle manufacturers rather than making the cars themselves,” analyst Brian Fitzgerald wrote in a note.