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Volkswagen & Google to Jointly Develop Quantum Technology

Zacks

Volkswagen AG VLKAY reported that it has collaborated with Google for comprehensive research in the field of quantum computing. The announcement was made at the technology conference, Web Summit 2017, in Lisbon.

The companies will investigate the usage of quantum computers and aim to build expert knowledge and focus on research for practical purposes.

A combined team of specialists from Google and Volkswagen will work on the project using a Google quantum computer. The machine’s architecture is apt for experimental computing operations.

Volkswagen AG Price and Consensus


Quantum computers have the capability to solve highly complex tasks much faster than conventional supercomputers.

The companies want to continue with traffic optimization and development of high-performance batteries for electric vehicles besides finding structures for new materials and using artificial intelligence with new machine learning processes.

The algorithms, simulations and optimizations will be developed by the specialists of Volkswagen Information Technology Centers (IT labs) in San Francisco and Munich along with experts from Google.

Per management, Volkswagen wants to be among the first to use quantum computing technology for corporate processes soon after the technology is made commercially available.

Price Performance

The stock has gained 7.5% in the last month, outperforming the 4.3% rise of the industry it belongs to.



Zacks Rank & Key Picks

Volkswagen carries a Zacks Rank #3 (Hold).

Some better-ranked companies in the auto space include PACCAR Inc. PCAR, Cummins Inc. CMI and AB Volvo VLVLY. All stocks sport a Zacks Rank#1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

PACCAR has an expected long-term growth rate of 10%.

Cummins has an expected long-term growth rate of 12.1%.

Volvo has an expected long-term growth rate of 15%.

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