The self-driving vehicle companies are still in the early stages and hold a skyrocketing potential in the long-term.
Autonomous vehicle stocks have become a major debate in investor sittings. In recent times, autonomous vehicle companies have sparked in the market. In 2020, most of the electric vehicle (EV) companies made massive gains. But as we head forward in 2021, autonomous vehicle firms have a fair chance to go bullish.
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The evolution of electric vehicle (EV) has given a new dimension to the automobile industry—autonomous cars are another success of it. The autonomous vehicle stocks are under the spotlight and have performed remarkably well in 2021 so far. The future of self-driving vehicles has a massive prospect going forward. Let’s have a look at autonomous vehicle stocks to buy in 2021.
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Tesla (TSLA)
Tesla (TSLA) is the electric vehicle giant and is not specified in the category of autonomous cars. However, the company has its autopilot feature in most of the cars and plans to be fully autonomous soon. So, potentially we can consider Tesla as a fully autonomous vehicle producer.
Tesla is famous for its EVs and beautiful designs, but its autonomous feature has also amused the consumers. Earlier in 2020, Elon Musk said that Tesla is very close to achieving the basic requirements of its level-five autonomy. Currently, Tesla is producing level-two autopilot cars that require drivers to remain alert and ready to act in case of any mishappening. While the level-five autonomy would require no driver.
At the moment, Tesla’s (TSLA) stock is trading around $855 and is expected to surge up to $900 in the upcoming weeks, and above $1,000 in the long-term. So, TSLA stock looks like a promising buy as things stand now.
Luminar Technologies (LAZR)
Luminar Technologies (LAZR) stock is fairly new to the stock market—was listed for public trade through SPACon Dec. 3, 2020. Luminar is popular for its laser technology used in autonomous vehicles.
The company has collaborations with Volvo and Daimler that will help the autonomous car maker to bring Luminar’s sensors into the vehicles and semi-trucks in early 2022. Moreover, Luminar has also worked on lidar technology that will be part of its autonomous vehicles. This new company is catching investor’s sight.
Most importantly, the company has entered a future marketplace with huge potential. Even companies like Tesla are working to build fully autonomous cars, and now, tech-giant Apple has also jumped in to produce its first-ever car—autonomous car.
The CEO of Luminar, Austin Russell said that the trucking and logistics industry is a massive market and is almost a trillion USD alone. Russell believes that they can be part of this system and make a difference through its advanced autonomous technology.
So, Luminar Technologies (LAZR) stock is an interesting bet for this year among the top autonomous stocks.
Baidu (BIDU)
Baidu (BIDU) is the leading car company in China that works on self-driving car technology and artificial intelligence (AI). The company is well-position in the market and has its ecosystem spread-out with a stronghold.
The company collaborated with a Chinese state-owned carmaker, FAW Group, in 2019—for developing the Hongqi EV AI-powered taxi. The robotaxi is still under development and is being tested in different phases across multiple cities of China. Hongqi EV Taxi will become the first-ever mass-production robotaxi in the country.
In a recent press release, Baidu has confirmed that it will be becoming part of the EV market. Moreover, the company plans to create an independent subsidiary to produce its self-made EVs. For this, Baidu is looking forward to partnering with Zhejiang Geely Holding Group that will be its strategic investor in the new venture.
With this announcement, it’s clearer that the rumors circulating since late 2020 confirm that Baidu had held partnership talks with various Chinese automakers.
Baidu (BIDU) is already well-established in the autonomous car industry and with its entrance into the hot EV market, BIDU stock has the potential to go big in the long-term.