Ford's Autonomous Car VP Sherif Marakby On How To Make Money On Self-Driving Cars

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LAS VEGAS - Automakers are continuing to show why they deserve their fair share of spotlight at CES. And with a keynote speech from CEO Jim Hackett this week, Ford ( F ) hopes to be a driving force in the development of autonomous car technology.

[ibd-display-video id=3077390 width=50 float=left autostart=true] Not only are self-driving cars expected to provide more efficiencies on the road, but they are seen increasing revenue as goods and people are transported. Ford's VP of Autonomous Vehicles and Electrification, Sherif Marakby, told Investor's Business Daily that the focus will be on fleet and ride-sharing capabilities, rather than direct-to-consumer sales.

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"This is not going to be personal ownership," Marakby said. "It'll be different businesses being able to utilize our cars whenever they want to, and us providing them with our software and our platform whenever they need it."

Marakby said revenue per mile is an important metric when looking at self-driving fleet and ride share operations.

"We always want the car to be running and always to be generating revenue," Marakby said. "The car will always either have people or have goods because that's how we monetize the service. That's how we make the business work."

Along with Ford, General Motors ( GM ), Tesla ( TSLA ), Google parent Alphabet ( GOOGL ) and Nvidia ( NVDA ) are just a few other notable companies with self-driving car ambitions.


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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.

This article appears in: Investing , Stocks
Referenced Symbols: F , GM , TSLA , GOOGL , NVDA

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