When Tesla (TSLA) CEO Elon Musk led DOGE, it hurt the company’s sales. The setback creates an opportunity for other firms to strengthen their lead in the self-driving and robotaxi market. Tesla promised a cyber cab product. However, falling sales will hurt its cash flow, slowing its investments in full self-driving and robotaxi technology.
Google’s (GOOG) Waymo is a likely leader in the robotaxi market. In Austin, it commanded 20% of all rides that Uber Technologies (UBER) offered in the last week of March. This is based on data from YipitData’s report.
In the first 27 days of Waymo offering the service, the firm accounted for over 80% of the driverless rides.
Lyft (LYFT) has a chance to catch up to Uber. Demand is strong enough for robotaxis that both firms may increase their revenue from the service. Customers like robotaxis, since the firms have a better offering compared to those that require a person to drive. In addition, the vehicles are clean and nice.
As an alternative, investors may watch Amazon (AMZN) and Tesla. In China, Pony AI (PONY), Baidu (BIDU), and WeRide (WRD) are considered competitors in the autonomous driving space.
Investors should try Waymo’s service to appreciate the revenue potential in the robotaxi market.