Move Over, Tesla: This $140 Billion Company Looks Like a Superior Robotaxi Investment
Source: Motley Fool ·
Tesla faces stiff competition in the autonomous-vehicle rideshare market.
From the source
The global robotaxi market is expected to be a huge opportunity for investors. Cathie Wood, the CEO of Ark Invest, believe the robotaxi market will eventually be worth $8 trillion to $10 trillion worldwide. Wood thinks the transition will occur faster than most people expect. A survey of experts by McKinsey & Co. largely agrees. "Autonomous-vehicle technology is developing rapidly," the firm concludes. "[T]he global rollout of robo-taxis is now expected to become reality at a large scale in 2030 ... Overall, experts expect that robo-taxis will be the first commercial application for L4 in mobility -- not privately owned cars." Similar to the arms race occurring in the AI world right now, there will also be an arms race among robotaxi operators. The nature of that industry should reflect a classic two-sided marketplace. For a robotaxi platform to be successful, it needs ample supply and demand. That is, robotaxi networks will need to deploy a widespread network of vehicles, and…