NEW YORK (TheStreet) -- Ford (F) is testing two new driverless car technologies at a research facility in Germany. The first is a car that parks itself without anyone in the driver's seat, and the second is precognition to automatically turn the wheel when a pedestrian is ahead.
Though still in the beta stage, the autonomous developments make Ford the latest automaker to join the race to put a driverless car on the market.
In September, Tesla (TSLA) CEO Elon Musk tweeted company plans to develop a self-driving car by 2017. Musk wrote of "intense effort underway at Tesla to develop a practical autopilot system for Model S".
Nissan (NSANY) has also commented it hopes to have an autonomous car ready to go to market by 2020.
Ford shares are 1.3% higher to $16.84 as of 11:19 a.m. New York time, on par with the S&P 500 which is up 1.28%. Ford will report third-quarter earnings on October 23.
TheStreet Ratings team rates Ford Motor Co as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate Ford Motor Co (F) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, good cash flow from operations, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."