News / Uncategorized
Robotaxis are set to go global in 15 months…
Robotaxis are set to go global in 15 months…
August 21, 2023
There has been a $4 billion joint venture between automotive tech company Aptiv and South Korean conglomerate Hyundai. The joint company is called Motional. As a reminder, Aptiv and Hyundai partnered up to launch an autonomous ride-hailing service.
That’s how Motional was formed. And the company has been testing its robotaxis in partnership with Lyft for close to a year now. And those tests must have gone very well. Motional just announced that its robotaxi program will expand globally through the Lyft app starting in 2023. That’s just 15 months away. What’s more, the joint venture company just revealed its Ioniq 5 electric SUV. This is the vehicle that the robotaxi service will go live with:
What I like about this is that Motional is not trying to be all things to all people. As we can see from this image, it hasn’t tried to hide or skimp on the sensors. That likely reduces the car’s aesthetic appeal for many people, but Motional is not going after the consumer market. Instead, Motional designed the Ioniq SUV exclusively as a robotaxi. It’s not for retail sale. Therefore the look simply doesn’t matter that much.
What matters is how functional and safe the car is. And that’s why Motional went heavy on the self-driving sensors. This is something of a break in the industry. The trend has been toward reducing sensors – both to increase visual appeal and to reduce the cost of production. However, Motional doesn’t have to worry as much about the cost of production because it’s not competing in the consumer market.
The Ioniq will generate revenue by participating in autonomous ride-hailing services. That’s its only function. And we should note that Motional has been testing its robotaxis in Boston, Las Vegas, Los Angeles, Pittsburgh, and Singapore. These cars are on the road in these cities as we speak. And by 2023, Motional will formally launch these robotaxis over a much wider range of geographic areas.
So Motional is a company that we will be keeping a close eye on going forward. I expect progress will happen quickly and, depending on where you live, you might have access to these cars through Lyft much sooner than you might think. I’m excited to see how quickly these Ioniq autonomous SUVs are rolled out across the country.
This is just one more proof point that self-driving cars are not five or 10 years away, as many analysts and industry “experts” have predicted. On the contrary, they are already here. And that’s only going to become more evident over the next 18 months.
Share this article:
More in Uncategorized:
Ultra Clean Holdings (UCTT) July 25, 2024, Earnings Call Summary
Future Price Projections Participants: Rhonda Bennetto – Senior Vice President, Investor Relations Jim Scholhamer – Chief Executive Officer Sheri Savage...
Robotaxis are set to go global in 15 months…
July 26, 2024
APPLE, MICROSOFT, NVIDIA PRICE TARGET 🎯
Short term, price targets for the top three S&P 500 holdings
Short term, price targets for the top three S&P 500 holdings The following are my price targets for the very...
Trent Grinkmeyer
July 25, 2024
Nvidia's Stake in Serve Robotics: A Game-Changer for AI-Powered Delivery?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in Serve Robotics, a company specializing in autonomous sidewalk delivery robots. This revelation sent Serve's stock soaring an impressive 233% over two days. But what does this mean for the future of AI-powered delivery, and should investors jump on board?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in...
Trent Grinkmeyer
July 24, 2024
The Commercial Real Estate Crash
Its Ripple Effect on the Banking System and The Stock Market
The commercial real estate market is on the verge of a significant downturn, potentially mirroring the infamous 2008 financial crisis....
Robotaxis are set to go global in 15 months…
July 23, 2024
The Democratization of Compute
A Paradigm Shift in Business and Investment Artificial Intelligence (AI) is undeniably transformative, poised to revolutionize the world as we...
Kerry Grinkmeyer
July 23, 2024
Are Google and Meta Heading for a Stock Price Slump?
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major players. Today, I want to discuss two tech giants that have long been darlings of Wall Street: Google and Meta. While they've enjoyed impressive growth and dominance in their respective fields, there are signs that their stock prices might face some headwinds in the near future.
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major...
Trent Grinkmeyer
July 23, 2024