Are these the best autonomous vehicle stocks to buy right now?
Over the years, consumers have seen the integration of semi-autonomous driving technology into mainstream vehicles. And the development of fully autonomous driving is accelerating. Thus, investors can closely monitor autonomous vehicle (AV) stocks in stock exchange. Thursday, General Motors (NYSE: Chief Executive Officer) Cruise announced that it had started charging fares for its driverless rides in San Francisco. In the past, rides were limited to the account holder. Going forward, Cruise will allow passengers to bring a guest on their trip. This is part of the company’s plan for marketing the service.
In addition, Valeo, one of the biggest players in automotive 3D scanning lidar systems, says it will release its third-generation Scala lidar system in 2024. It will offer 12 times better resolution and will be able to visualize objects at more than 200 meters. a way. That said, the company expects a boom in advanced driver assistance systems (ADAS) in the coming years. For a sense of scale, he expects the lidar market to eventually reach a global total of over $50 billion. Overall, there’s reason to be optimistic around the audiovisual industry right now. So here are some of the best names to note in the stock Exchange today.
Self-driving vehicle stocks to watch right now
Baidu is one of the leading Chinese names in the audiovisual industry. For the most part, it is known for its Internet search engine which allows users to find information online. Besides that, the company is also making progress in other areas such as Baidu AI Cloud and smart driving initiatives. As a testament to its self-driving technology, Baidu received a nomination letter from China’s Dongfeng Motor in April. This is an indication that DongFeng Motor intends to use the Apollo Self Driving in one of its popular models.
Additionally, JIDU, an electric vehicle (EV) company backed by Baidu and Geely, launched a concept robocar earlier this month. Named ROBO-01, the JIDUs “The ultimate goal is to achieve a fully driverless transportation experience.” The concept car also comes with a stronger AI perception and more active service capabilities. A model that will be 90% similar to the concept car is expected to go into mass production in 2023. Considering these factors, could BIDU stock be an AV stock to watch?
Then we have the global automotive technology company, Lamp. Simply put, the company specializes in vehicle safety and autonomy. The Company operates through two segments, Autonomy Solutions and Components. The Autonomy Solutions segment is engaged in the design, manufacture and sale of lidar sensors and other software solutions enabling autonomy. Meanwhile, its Components segment provides testing, design, consulting and manufacturing services for non-standard integrated circuits and components.
In May, Luminar announced a partnership with Chinese automotive technology company ECARX. The two companies are partnering to improve automotive-grade technologies with the goal of enabling advanced safety and audio-visual capabilities in the production of consumer vehicles and trucks. Naturally, the partnership will strengthen Luminar’s presence in China, the world’s largest automotive market. With LAZR stock having fallen more than 60% in the past year, should investors expect a turnaround?
Alphabet is another tech giant that could potentially lead the way in the AV industry. What started as Google’s self-driving car project more than a decade ago is now known as Waymo, a self-driving technology development company. Today, the company’s Waymo One operates as a self-driving taxi service in parts of Phoenix, Arizona. Not to mention that Waymo also develops driving technologies for other vehicles such as vans and semi-trailers for delivery and logistics. For these reasons, investors interested in the AV sector would often have their eye on GOOGL stocks.
On top of that, Waymo and Uber (NYSE: UBER) Freight recently entered into a collaboration. As the demand for maritime transport continues to increase and the shortage of drivers remains an issue, this fills a new need for the logistics industry. Therefore, the partnership aims to combine the power of the Waymo Driver with the scale of Uber Freight’s market technology. Under the terms of the agreement, the standalone Waymo Via solution will be directly connected to the Uber Freight platform for shippers to access. Given such an exciting development, would you consider adding GOOGL stock to your watchlist?
Just like Luminar, Ambarella could potentially play a huge role in the growth of the audiovisual sector. For those unaware, the company is a developer of low-power system-on-chip (SoC) semiconductors. It provides artificial intelligence processing, image signal processing, and video compression, among others. Currently, the company is focused on creating an artificial intelligence technology that allows peripheral devices to visually perceive the environment and make timely decisions based on collected data.
On Wednesday, Inceptio Technology, a self-driving truck operations and technology company, announced its selection of Ambarella’s CV2FS and CV2AQ edge AI SoCs for its automotive-grade core computing platform. Well, Ambarella’s SoC will provide high-performance, low-power processing for seven 8MP cameras simultaneously. Along with that, it will include AI computation, for surround camera perception and front ADAS safety features such as collision avoidance. All things considered, could AMBA shares be a viable long-term investment?
Finally, let’s dive deeper into the details of the France-based automotive supplier, Valeo. The company focuses on the design, production and sale of components, integrated systems and services for the automotive sector. As a technology company, Valeo’s vision is to influence the mobility of tomorrow. She believes that future mobility must be greener, safer and more diverse. With megatrends such as vehicle electrification and autonomous driving on the rise, Valeo has the potential to be one of the biggest winners in this transformation.
Not so long ago, Valeo announced that it would provide Stellantide (NYSE: STLA) with its third-generation Scala lidar. From 2024, this will enable SAE Level 3 autonomous driving in Stellantis vehicle models. Diving into the technical details, SAE Level 3 means drivers can take their attention away from the act of driving to initiate other activities. But, they still need to be attentive enough to regain control as directed by the vehicle. With this in mind, would you bet on the future of the VLEEY share?