Ford Motor Company (NYSE:F) is working on technology that might just spell the end of the speeding ticket, unless of course people drive other brands of cars.
According to a post from the Ford Motor Company (NYSE:F) UK site, the company is launching a system called Intelligent Speed Limiter which would prevent drivers from unintentionally exceeding speed limits.
“The system monitors road signs with a camera mounted on the windscreen, and slows the vehicle as required. As the speed limit rises, the system allows the driver to accelerate up to the set speed – providing it does not exceed the new limit,” the automaker says in its announcement.
Stefan Kappes, active safety supervisor for Ford of Europe, said that drivers are not always aware that they are going over speed limits. People will sometimes only find out they were speeding when they are fined or are stopped by law enforcers.
“Intelligent Speed Limiter can remove one of the stresses of driving, helping ensure customers remain within the legal speed limit,” Kappes said.
According to Ford Motor Company (NYSE:F), breaking the speed limit is costly and dangerous. The company said that speeding often contributes to accidents.
Ford Motor Company (NYSE:F) said that in 2013, over 15,000 drivers were fined £100 or more for speeding in the U.K. alone.
The technology is slated to debut on the Ford S-Max people carrier, an MPV designed to carry seven people.
Richard S. Pzena’s Pzena Investment Management ended 2014 owning about 15.05 million shares in Ford Motor Company (NYSE:F). The stake, which was valued at about $233.33 million, was added to the institutional investor’s portfolio during the fourth quarter of 2014. The stake made up 1.24% of the whole Pzena Investment Management portfolio.
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