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Aptiv's Autonomous Vehicles to Operate at McCarran Airport

Zacks Equity Research

Aptiv PLC APTV yesterday announced that it has got access to pick up and drop off a select group of passengers through its self-driving vehicles at the McCarran International Airport, Las Vegas.

McCarran is the newest addition to the list of more than 3,400 destinations in Las Vegas, where Aptiv's self-driving vehicles are in service.

We observe that shares of Aptiv have gained 45.2% over the past year, significantly outperforming the 3.1% growth of the industry it belongs to.

A Step Toward Level 4

The company stated that this airport access will help it in the process of building a production ready Level 4 autonomous driving platform in 2022. Also, Aptiv and McCarran will be able to gather more knowhow about robotaxi utilization and deployment for efficient ground transportation to and from airports.

Karl Iagnemma, president of Aptiv Autonomous Mobility stated,” We look forward to working with McCarran International Airport to demonstrate that self-driving cars can soon improve their customers' mobility experience."

Apart from Las Vegas, Aptiv’s autonomous vehicles are operational across Boston, Singapore, and Pittsburgh. The company is in an autonomous driving joint venture with Hyundai Motor Group, which is likely to enhance its self-driving know-how and competitiveness against rival alliances.

Zacks Rank & Stocks to Consider

Currently, Aptiv carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader Zacks Business Services sector are S&P Global SPGI, Accenture ACN and Booz Allen Hamilton BAH, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term expected EPS (three to five years) growth rate for S&P Global, Accenture and Booz Allen Hamilton is 10%, 10.3% and 13%, respectively.

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