NEW YORK (TheStreet) -- Shares of Ford Motor (F) were climbing in mid-afternoon trading on Monday after CEO Mark Fields said in a speech at the vehicle manufacturer's headquarters in Dearborn, MI that the company is hoping to sell driverless cars by 2025, Bloomberg reports.
The company's goal is to lower costs of autonomous vehicles, Fields said.
"We're dedicated to putting autonomous vehicles on the road for millions of people, not just those who can afford luxury cars," he added, Bloomberg reports.
Ford's first step into driverless car production will be with robotic taxis for ride-hailing services, which the company hopes to unveil by 2021, Ford announced last month.
Additionally, on Friday the company announced an acquisition of San Francisco-based shuttle service company Chariot.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B-.
The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: F