Autonomous vehicles may soon be hitting a street near you…and that’s something that should have you EXCITED!
Here’s a question you might be asking yourself soon as you are driving down the interstate: “Wait a second, I swear there was nobody driving that Fed Ex semi-truck! Am I going crazy?”
Fear not, Money Movers. You are indeed not going crazy. If this happens to you in the coming years, you likely did see a Fed Ex driverless semi-trailer truck cruise by you on the way to their next drop off spot.
But that’s apparently no reason to be afraid…at least not according to FedEx CEO Fred Smith. If Smith gets his way, this may soon become a very common sight.
Smith told CNBC’s “Mad Money” with Jim Cramer this week that FedEx will make an “enormous effort” to begin using autonomous trucks by the end of 2022.
Cars have come a long way since the days they were foot-controlled in the town of Bedrock. Fred Flintstone would be amazed if he were around to see that not only do you not need feet anymore to peddle a car, but soon the road will be littered with driverless cars.
Autonomous semi-trailer truck solutions companies TuSimple and Aurora—which has a contract with FedEx—are working to improve autonomous trucks. However, so far Wall Street and our own Money and Markets Green Zone Fortunes ratings are not enamored with these two companies.
As you can see below, both stocks are high risk and it is recommended that you avoid or short these two stocks.
But that’s not to say that it is all doom and gloom for the autonomous vehicle market.
There are now several companies vying for autonomous vehicle supremacy.
Ford, GM, Apple, Tesla, and Alphabet—Google’s parent company— are developing self-driving cars of their own.
Google’s self-driving startup Waymo announced this week that they are fully operating driverless cars in San Francisco.
Waymo said that their cars are just being used by employees as of now, but they hope that they will be available to the rest of us soon.
The company’s self-driving cars have been roaming the streets of San Francisco for several years now—but the cars have always had safety specialists in the driver’s seat.
Waymo announced that one of their self-driving cars even picked one of their employees up for work in the morning and took them to pick up their morning cup of Joe.
Waymo released a statement in which they said, “This morning in San Francisco, a fully autonomous all-electric Jaguar I-PACE, with no human driver behind the wheel, picked up a Waymo engineer to get their morning coffee and go to work.”
However, many of you are probably wondering if these autonomous vehicles are safe. Well, so far, the results are mixed.
According to Business Insider, “a majority of the 98 reported accidents [involving self-driving cars in San Francisco] in 2021 occurred while the vehicles were in autonomous mode, or within seconds after the autonomous mode technology had been switched off.”
“Of the 53 collisions during which the cars were operating in autonomous mode, or had been moments before impact, 11 resulted in injuries,” according to Business Insider.
One of the selling points for proponents of autonomous vehicles is that they will reduce human error and save lives. As of last year, there were a reported 40,000 human fatalities attributed to car accidents.
Fortunately, there were no reported deaths attributed to autonomous vehicles.
So far, autonomous vehicles struggle with unexpected movements like a car running a red light or a biker crossing a busy street. However, when conditions are predictable, autonomous vehicles have proven to be effective.
Some market analysts see giant upsides in the autonomous vehicle market and are predicting that the market could total $1.4 trillion by 2025.
And some experts, including a legendary Wall Street investor, are forecasting that the autonomous vehicle market will grow by 63,000%! The best part is this legend is super pumped about one particular stock pick in the AV market…and he wants to share it with you. You can learn which AV stock he likes by clicking here.
So, in the long run, self-driving cars could have investors like you shouting: “Yabba-dabba-doo!”