What To Know About Michigan's Autonomous Road Of The Future Project

Benzinga EV Insights
2 min read
0

A connected and autonomous vehicle motorway is being planned in Michigan to connect downtown Detroit and Ann Arbor alongside existing roads such as I-94.

Cavnue was selected to lead the project in partnership with the state of Michigan.

What Happened: The project, announced Thursday, is being done in partnership with the University of Michigan along with Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM), Argo AI, BMW, Honda Motor Co Ltd (NYSE: HMC), Toyota Motor Corp (NYSE: TM), Waymo and others.

A main focus of the project is to design the corridor to fill in missing pieces of the current transportation infrastructure with the use of self-driving vehicles.

“This connected and automated vehicle corridor will be so much more than a road. It will serve as a pathway to sustainability, to safer mobility, and to prosperity for underserved populations and for the state of Michigan as a whole," Alec Gallimore, the Vlasic dean of engineering at the University of Michigan, said in a statement.

The project is set to begin with a feasibility assessment.

Why It's Important: Once construction and testing are underway, part of the plan is to work to fix and rebuild Michigan's crumbling roads.

While doing so, the project plans to upgrade the infrastructure to prove that the concept of smart driverless and human operated cars will be able to make travel safer, faster and more efficient.

Michigan Gov. Gretchen Whitmer at Thursday's announcement. Photo courtesy of the Michigan Economic Development Corp. 

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement

Recommended Stories

  • Homes are overvalued in much of the U.S. — with these 5 states leading the list

    Home prices are overvalued nationally, according to a new report by Fitch Ratings, led by Southern states.

  • 'Which Bucket Do I Draw From First?' Suze Orman Explains To 67-Year-Old The Best Order For Tapping Into Her Retirement Accounts

    When Ellen, a 67-year-old retiree, reached out to Suze Orman during her podcast, she had a straightforward yet crucial financial inquiry: "Which bucket do I draw from first?" Ellen, whose Social Security covers most of her daily living expenses, needed guidance on how to use her different types of retirement accounts for additional expenditures like travel. Don't Miss: The recommended retirement savings amount is $550K, but here is why so many Americans are falling short. Reddit user reveals his

  • My father ‘deliberately and hurtfully’ cut my late sister’s two kids out of his will. How can I ensure they get their fair share?

    “How can I best do this in such a way that nobody is penalized from gift taxes and other costs?”

  • Dow Jones Rises After Hot Inflation Data, Powell Next; GameStop Rockets 112%

    The Dow Jones rose Tuesday on the stock market today on hot inflation data. Fed Chair Jerome Powell is next. GME stock rocketed 112%.

  • Fed's Powell: PPI 'mixed,' next move unlikely to be a rate hike

    Federal Reserve Chair Jerome Powell on Tuesday said the latest report on U.S. producer prices was more "mixed" than "hot" given that prior data was revised lower even as the figures for April came in higher than expected. "I wouldn't call it hot, I'd call it mixed," Powell said at an event in Amsterdam after the Labor Department released the Producer Price Index for April. Asked if the recent run of higher-than-expected inflation might mean that the Fed's policy rate is not sufficiently restrictive to return inflation to the Fed's 2% target, Powell said "time will tell."

  • 10 Stocks 'Roaring Kitty' Should Target Next Instead Of GameStop

    Meme-stock maven Roaring Kitty surfaced on social media again to hype GameStop shares. But there are better targets beyond the S&P 500.

  • Southern States Sink As Seriously Underwater Home Mortgages Rise

    According to a report released on May 9, 2024, the number of properties classified as seriously underwater is ticking up, with southern states bearing the brunt of the phenomenon. One in 37 homes with mortgages was considered seriously underwater during the first quarter, according to real estate data provider ATTOM's 2024 U.S. Home Equity & Underwater Report. That's up from one in 38 homes during the fourth quarter of last year. A mortgage is considered seriously underwater when the estimated l

  • Prediction: These Are Wall Street's Next 3 Stock-Split Stocks to Follow Walmart and Chipotle Mexican Grill

    Nearly a dozen high-profile companies have conducted a forward-stock split since the midpoint of 2021. Three prominent, time-tested businesses may be the next stock-split stocks.

  • Can You Guess How Many Retire With A $5 Million Nest Egg?

    In the realm of retirement savings, only a select few in the United States achieve the milestone of a $5 million nest egg. Data from the Employee Benefit Research Institute, based on the Federal Reserve’s Survey of Consumer Finances, reveals that a mere 0.1% of retirees manage to accumulate over $5 million in their retirement accounts, whereas only 3.2% amass over $1 million. Don't Miss: 82% of Americans aren’t using this government secured 5% passive income stream, are you one of them? Can you

  • SunPower Stock Soars on Meme Frenzy as Short Interest Mounts

    (Bloomberg) -- Heavily shorted SunPower Corp. shares have been caught up in the meme-stock frenzy, sending the solar power company toward its biggest gain on record.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindMacron Puts French Banks in Play With Plan to Transform EuropeBiden Adds Tariffs on Chinese Chips, Critical Minerals, EVsFive Under-the-Radar Billionaires Making Vast Fortunes in Modi's IndiaTesla Rehires Some Supercharger Workers Weeks After Musk’s C