Latest news with #autonomousVehicles
Yahoo
a day ago
- Automotive
- Yahoo
Tesla Named 'Top Pick' After Robotaxi Launch; Analysts Predict 45% Upside
June 27 - Benchmark analysts have reaffirmed Tesla (NASDAQ:TSLA) as its Top Pick and lifted its price target to $475 from $350, reflecting growing confidence in the electric vehicle maker's robotaxi rollout. The higher target implies an upside of about 46% from current levels. Analysts said the new valuation is based on Tesla's long-term earnings potential, with the firm assigning a multiple of 53.9 times its projected 2028 EBITDA, well above tech sector peers. Benchmark's optimism follows Tesla's limited launch of its autonomous ride-hailing service in Austin, Texas. The firm said the company's safety-first approach could help build public and regulatory trust, especially with new state regulations on autonomous vehicles set to take effect Sept. 1. While Alphabet's (NASDAQ:GOOGL) Waymo may currently lead in autonomous rides, Benchmark argues Tesla's strategy could prove more scalable, thanks in part to its cost-effective Model Y. Tesla ended Q1 with $37 billion in cash and $600 million in free cash flow, providing ample resources for growth. Although TSLA shares remain down over 19% year-to-date, Benchmark expects improvement in the second half of 2025. The firm sees the company evolving from a traditional EV maker to a broader automation and robotics player. Tesla's Q2 delivery results will be closely watched in the coming weeks. This article first appeared on GuruFocus.
Bloomberg
a day ago
- Automotive
- Bloomberg
Tesla's $800 Billion Robotaxi Dream Is Finally Facing Reality
Unlike us mere mortals, time is usually on Tesla Inc.'s side. The launch of its robotaxi service this week has inverted that, and at a moment of particular weakness for the company. When it comes to Tesla's push for dominance in autonomous vehicles, the handful of Model Y robotaxis now offering paid rides in Austin represents a milestone. But it is also a millstone because of how Tesla is doing autonomy and Chief Executive Officer Elon Musk's long history of overpromising on its capabilities. Tesla's pitch is that the vehicles it sells already have the hardware needed to be robotaxis and that its self-driving software, trained on a vast fleet of existing cars driven by unpaid beta testers, can handle virtually any situation. Yet the Austin launch has been defined less by its boundless potential and more by its boundaries, operating in a limited area, with invite-only customers and a 'safety monitor' in each vehicle.
Reuters
2 days ago
- Automotive
- Reuters
Automakers want US to move faster on self-driving car rules
WASHINGTON, June 26 (Reuters) - Major automakers want Congress and the Trump administration to move faster to make it easier to deploy autonomous vehicles without human controls as new robotaxi tests expand. Congress has been divided for years about whether to pass legislation to address deployment hurdles, while the National Highway Traffic Safety Administration has not moved quickly to rewrite safety rules or allow exemptions for up to 2,500 vehicles without human controls annually and ease other hurdles. "The auto industry wants, it needs a functioning and effective auto safety regulator. We don't have that today," said Alliance for Automotive Innovation CEO John Bozzella at a U.S. House of Representatives hearing on Thursday. "The agency isn't nimble. Rulemakings take too long if they come at all." Autonomous Vehicle Industry Association Director Jeff Farrah urged Congress to pass long-stalled nationwide legislation to allow the United States to globally lead on AVs as China moves aggressively in the field. "Right now we are fighting with one hand tied behind our back," Farrah said. Companies have pushed for more action for years. U.S. Transportation Secretary Sean Duffy said in April that a new department framework to boost autonomous vehicles would help U.S. automakers compete with Chinese rivals. Earlier this month, NHTSA said it would speed reviews of requests from automakers to deploy self-driving vehicles without required human controls like steering wheels, brake pedals or mirrors. Representative Frank Pallone of New Jersey, a Democrat, cited reports showing NHTSA has lost as much as 35% of its expert staff this year through layoffs and other exits, which puts the ability of the agency to function at risk. NHTSA said "significantly fewer people have left" than Pallone suggested and that it remains "staffed to continue to conduct all safety- and mission-critical work" and is boosting its Office of Autonomous Safety. Meanwhile, U.S. traffic deaths remain sharply above pre-COVID levels. Despite falling 3.8% in 2024 to 39,345, they are still significantly higher than the 36,355 killed in 2019 and double the average rate of other high-income countries. "NHTSA is failing to meet the moment," Insurance Institute for Highway Safety President David Harkey told lawmakers. "In recent years, it has approached its job with a lack of urgency, using flawed methodologies that underestimate the safety benefits of obviously beneficial interventions," he said. NHTSA routinely fails to write regulations even when directed by Congress and has often gone years without a Senate-confirmed leader.
Yahoo
2 days ago
- Business
- Yahoo
Bank of America Securities Maintained a Buy Rating on Uber Technologies (UBER), Sees Improved Outlook
Uber Technologies, Inc. (NYSE:UBER) is one of the 12 Best Stocks to Buy and Hold for the Long Term. On June 18, Justin Post from Bank of America Securities maintained a Buy rating on Uber Technologies, Inc. (NYSE:UBER) with a price target of $97. The rating comes on the back of an improved outlook for the company considering its partnerships with autonomous vehicle companies and expansion in ride-hailing services. On June 10, Uber Technologies, Inc. (NYSE:UBER) announced its partnership with Wayve to launch level 4 autonomous vehicles in London. This will be a trial launch which will focus on Level 4 driverless cars, capable of full self-driving within defined areas. The collaboration is just another instance of the company's partnership to enable autonomous vehicles. Analyst Post highlighted Uber's partnership with Waymo in California to test vehicles in New York. He believes these partnerships align with Uber Technologies, Inc. (NYSE:UBER)'s expansion strategy. A close up view of a hand holding a smartphone, using a ride sharing app. Moreover, the established network and diverse set of partnerships with industry leaders enables the company to mitigate risks arising from strong competition. In addition, Uber Technologies, Inc. (NYSE:UBER) continues to grow its ride-hailing platform. The number of trips for Q1 2025 grew 18% year-over-year to reach 3 billion, driven by a 14% growth in monthly active platform customers. While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
Yahoo
2 days ago
- Automotive
- Yahoo
Waymo Returns to NYC for Robotaxi Mapping Under Alphabet (GOOGL) Expansion
Alphabet Inc. (NASDAQ:GOOGL) is one of the 10 undervalued blue chip stocks analysts recommend for smart investing. On June 18, Waymo, Alphabet's self-driving division, announced a return to the streets of New York City. The move will materialize in July this year, and the primary objective is to further Waymo's autonomous vehicle testing and mapping efforts, with long-term plans to launch robotaxi services. Small business owners with their laptops sitting at a coffee shop, discussing their digital advertising strategy. Waymo will kick off the mapping and data collection exercise with human safety specialists behind the wheel. The insights will inform the company's efforts to offer fully autonomous ride-hailing services in New York City. Waymo previously conducted preliminary mapping and data collection in Manhattan in 2021. The move is part of Waymo's broader expansion strategy. The company already offers commercial robotaxi services in San Francisco, Phoenix, Los Angeles, and Austin. There are plans to launch soon in Atlanta, Miami, and Washington, D.C.. Waymo aims to expand its fleet from 1,500 to 2,500 vehicles. Alphabet Inc. (NASDAQ:GOOGL) is a global technology holding company and the parent of Google. It offers products and services across digital advertising, cloud computing, consumer hardware, and software platforms. Its core businesses include Google Search, YouTube, Android, Chrome, Google Cloud, and Google Play. While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Biotech Stocks Screaming a Buy and 13 Best Software Stocks to Buy Now. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
