2 Robotaxi Stocks to Buy in September for the Next Decade of Growth
Key PointsAutonomous driving technology is advancing at a rapid pace.
In September, investors may want to consider two robotaxi stocks for potential growth over the next decade, according to Cathie Wood, CEO of Ark Invest. Wood predicts a massive $8 trillion to $10 trillion market for autonomous taxis worldwide, starting from a near-zero point. However, before investing, it's important to understand the timeline for reaching Wood's forecasted market size.
Autonomous vehicles have been promised for decades, with Tesla CEO Elon Musk frequently stating that full self-driving capabilities are just around the corner. Yet, Musk's predictions have often been delayed. In fact, McKinsey & Co. recently pushed back its timeline for robotaxis due to slower-than-expected growth. The firm's 2024 survey indicates that adoption timelines for autonomous vehicles have slipped by one to two years on average compared to the 2023 survey.
Despite these delays, the potential for growth in the robotaxi market remains significant. As investors weigh their options, two companies stand out as potential contenders for the next decade of growth in this exciting industry.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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