This year has been prime for the stocks of autonomous vehicles. Overall, the automotive industry is placed at an interesting spot. The conventional transport sector has suffered a lot this year, and those have experienced prosperity which are on cutting edge. Namely, autonomous vehicles and electric vehicles which have shown their presence in the stocks market. Due to the outbreak of the COVID-19 pandemic, the need for the latest AV technology emerged. Due to the fear of spread coronavirus, the ride-hailing sector experienced a setback. Resultantly, the majority of the companies moved towards the AV industry for bringing a revolution in the sector.
Ride-hailing firms including Lyft and Uber have been working recently on the development of self-driving vehicles and cars. These 2 companies observe that ride bookings dive overall in March which experienced appropriate recoveries since then through other revenue streams. However, this seems that both companies have received a rude awakening due to a sudden predicament in 2020. Some good news is there for these firms as well for their investors as they are moving forward towards making investments in Best autonomous vehicle stocks. On the basis of the hedge fund data, Insider Monkey has shared the list of 12 best electric and autonomous vehicle stocks for 2021. This article will share some of the items on the list, let’s start now:
Cisco started working with Michigan DOT in 2017 to develop an autonomous infrastructure for driving. During the past few years, the company has developed an innovative collection of data and analytics solutions in the car manufacturing industry. The aim of the company is to combine the Ethernet connectivity with smart cars for the purpose of improving the self-driving technologyOxbotica and Cisco Systems Inc. has started a partnership for developing a platform that is helpful in running software-based autonomous cars.
On 9th position in the list shared by Insider Monkey is Tesla. This is a California-based vehicle manufacturer company involved in the manufacturing of driverless and electric-fueled cars. This is the favorite company of the crowds as the products offered by the company is innovative along with a luxury touch. The net income of the company reported in the 3rd quarter of the year 2020 was $331 million with total revenues of $8.77 billion. For reading more AVs stocks to buy, you can jump directly to the yahoo post by Insider Monkey on 12 Best Autonomous Vehicle Stocks to Buy for 2021.