Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. In the transport sector, autonomous trucks may offer substantial growth and cost-cutting opportunities to fleet operators that can apply the optimal technologies to transform their existing networks. The views and opinions are those of the author as of the date of publication and are subject to change at any time due to market or economic conditions and may not necessarily come to pass. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. See how you can continue your career journey at Morgan Stanley. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. Any charts and graphs provided are for illustrative purposes only. Most companies are still testing and refining technology that could be years from widespread use, so it's not always clear whose products are working and whose aren't. In the auto supply chain, BEVs could drive new opportunities for suppliers since newer products typically have higher prices and higher margins. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. It is important that users read the Terms of Use before proceeding as it explains certain legal and regulatory restrictions applicable to the dissemination of information pertaining to Morgan Stanley Investment Management's investment products. Private car ownership is more aspirational in India, a country with growing Internet access and a large population of young people who are concerned about pollution and open to ride-sharing. It won't exceed 25 miles per hour, but it does have electric motors in all four wheels for slippery roads and tight corners. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients. Ask your Morgan Stanley representative or Financial Advisorfor the full report, The Shared Autonomous 30 (Sep 22, 2016). We believe our greatest asset is our people. Heres a look at nine industries that will experience both disruption and opportunity: The rollout of shared/autonomous/electric transport could resemble the spread of the early electric utility grid in the 1880s and 1890s, which grew city-by-city, Jonas says. We lead with exceptional ideas, prioritize diversity and inclusion and find meaningful ways to give backall to contribute to a future that benefits our clients and communities. Along the way, plenty of other sectors will be figuring out how they can come along for the ride. We believe our greatest asset is our people. Before joining Aurora, in 2019, she was Lyft's director of business development and strategy, where she focused on automated-driving technology. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Shipping goods would likely be the first use case because of the lower degree of technological barriers (weight, size, etc.) However, the picture isnt entirely rosy for suppliers. His contributions have been essential in helping Zoox develop its automated-driving system, Shahin Farshchi, a partner at the venture capital firm Lux Capital, a former Zoox investor, told Insider. Its more like a freight train that starts slow, builds momentum, and then pulls a lot of weight for the long haul. It could also unlock more than 600 billion hours per year of driver and passenger time currently spent in vehicles. Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. Morgan Stanley's Wilson Says Hawkish Fed Surprise to Roil Stocks. Before joining Nuro, Estrada helped develop early autonomous-vehicle regulations at Google. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. If Zoox's all-in-one strategy pays off, Piper will have played a major role in making it work. From our origins as a small Wall Street partnership to becoming a global firm of more than 80,000 employees today, Morgan Stanley has been committed to clients and communities for 87 years. Underpinning all that we do are five core values. Most of the battery cell costs are driven by the price of materials and composition, Hendrikse says. Meet one of our Financial Advisors and see how we can help you. Morgan Stanley's Adam Jonas, who covers Tesla, referred to Apple's car as "the ultimate EV bear case" and called the tech giant's entry into the space a "clear negative for much of our. In the U.S., for example, the technological and economic landscapes are considered encouraging for development of the next wave of vehicles, given Silicon Valley's embrace of autonomous technology and an opening for affordable transportation alternatives. Several possibilities exist around the development of public stations, ranging from those sponsored by automakers and available only to drivers of their vehicles, to those financed and maintained by governments or utilities, or perhaps another model. Market values can change daily due to economic and other events (e.g. Shared carstaxis and cars operated by ride-sharing companies, but not car rentalin 2015 accounted for 4% of global miles traveled, but by 2030, Morgan Stanley estimates that number could reach 26%. But electric cars could be seen as a welcome solution to China's concerns about air pollution, and its growing Internet and mobile app market has already opened the door to the development of on-demand ride-hailing technology. At Morgan Stanley, giving back is a core valuea central part of our culture globally. Prior to making any investment decision, investors should carefully review the strategys relevant offering document. The path from here involves many hundreds of billions of dollars of capital investment across the sector stack including autos, commodities, cap goods and the supporting infrastructure.. Any charts and graphs provided are for illustrative purposes only. Autonomous vehicles use a suite of sensors, actuators and a central computer to perceive the environment and automate the driving process, thereby enabling the vehicles to drive themselves without human involvement. A monthly publication featuring the Global Multi-Asset Teams latest views on the economic and market environment and how best to position portfolios. In other words, the skys the limit. The report notes that flying cars could even give gaming and nightlife customers easier access to Las Vegas, which suffers from infrastructure headwinds, such as a lack of direct train service and heavy traffic from Los Angeles on busy weekends. They also may be subject to counterparty, liquidity, valuation, correlation and market risks. "We expect a potential announcement of proof of reality in a North American metropolitan area as early as 2016.". Everything we do at Morgan Stanley is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back. Before joining Tesla, in 2017, he worked at OpenAI as a research scientist. It is not addressed to any other person and may not be used by them for any purpose whatsoever. Add the hundreds of billions of hours people spend annually driving and riding in cars instead of engaging in other, potentially more productive (or stimulating) activity, and automotive transportation as practical utility and time-consuming necessity seems ripe for a redesigned consumer experience and relationship. All rights reserved. In a research report, Morgan Stanley predicted that widespread adoption of autonomous vehicles would contribute $1.3 trillion to the U.S. economy through cost savings from reduced fuel. In 2018, Morgan Stanley published a research note valuing the company at $175 billion based on its perceived leadership in the space and the potential for massive amounts of revenue from its. This is a major intellectual feat . Derivative instrumentsmay disproportionately increase losses and have a significant impact on performance. Morgan Stanleys U.S.Researchteams worked together to identify 30 companies that they believe are favorably exposed to growth opportunities in a world moving toward shared mobility, autonomous driving, and electrification. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. Autonomous car networks can create and consume massive amounts of wireless data. The firm looks at about 100 startups a month, and Meruva is usually the first person to meet with them. Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. As a global financial services firm, Morgan Stanley is committed to technological innovation. Without control over powertrain, and with greater supplier content than ever before, it could be much harder for the major automakers to maintain their competitive position, branding, and pricing power. Adam Jonas, Morgan Stanley's Head of Global Auto & Shared Mobility Research, says "A confluence of competitive, technological and regulatory forces have pulled-forward auto maker's plans to aggressively introduce EVs over the next 3 to 5 years vs. 20 to 25 years previously. Electric-powered vehicles can deliver yet more efficiency. We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses. Called STEEPL, the tool is used to gauge a region's social, technological, economic, environmental, political and legal landscape as it pertains to the automotive market. "Smartphones are a $500bn annual TAM. But what are the business implications for manufacturers as the world flips the switch from combustion to battery? Morgan Stanley is differentiated by the caliber of our diverse team. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. Accordingly, you can lose money investing in this Portfolio. Meet one of our Financial Advisors and see how we can help you. MORGAN STANLEY RESEARCH November 6, 2013 Autonomous Cars: Self-Driving the New Auto Industry Paradigm Contributors to this Report Autos & Auto-Related Ravi Shanker1 Adam Jonas1 Paresh Jain1 Yejay Ying1 +1 (212) 761-6350 +1 (212) 761-1726 +1 (212) 761-3354 +1 (212) 761-7096 This kind of transformation isnt a flashy two-seater with lots of zoom but limited accommodation. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. Hayon is leading the company's work on self-driving technology with an approach the company calls "true redundancy." Limitations remain, primarily related to batteries and propulsion technology. Slow dealmaking. The software has helped drive the introduction or improvement of numerous safety and convenience features, including automatic emergency braking and steering assistance, a Mobileye spokesperson said. It involves creating two autonomous systems one using only cameras, the other radar and lidar that can operate safely on their own, then bringing the two systems together. How to pay for such charging also remains an open question, now that free charging seems to have gone by the wayside. Hayon, one of Mobileye's first employees, led the development of software that allows Mobileye ADAS systems to understand how nearby objects are moving so that they can warn the driver or take evasive action to avoid a collision. The views expressed do not reflect the opinions of all investment personnel at Morgan Stanley Investment Management (MSIM) and its subsidiaries and affiliates (collectively the Firm), and may not be reflected in all the strategies and products that the Firm offers. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. Terms of Use. A monthly publication featuring the Global Multi-Asset Teams latest views on the economic and market environment and how best to position portfolios. According to Nicholas Ashworth, Co-Head of European Utilities Research, a consensus has yet to emerge on the number of public charging points needed to service the BEV fleet. Not every day you see a chart like this in a street research piece. This material is for the benefit of persons whom the Firm reasonably believes it is permitted to communicate to and should not be forwarded to any other person without the consent of the Firm. To identify the unheralded stars, we surveyed analysts, venture capitalists, industry experts, and autonomous-vehicle companies to nominate essential employees who aren't CEOs. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. Morgan Stanley Distribution, Inc. Privacy & Cookies The second augments human capabilitiesfor example, collaborating with a physician to diagnose diseases or even perform surgery. The firm cites how cars are only utilized 4 percent of the time and more than 600 billion hours . Discover who we are and the right opportunity for you. Morgan Stanley Investment Management's Counterpoint Global shares their proprietary views on a big idea that has the potential to trigger far-reaching consequences ideas such as autonomous vehicles, artificial intelligence, robotics and bioengineering. Morgan Stanley Blue Papers, a product of our Research Division, involve collaboration from analysts, economists and strategists across the globe and address long-term, structural business changes that are reshaping the fundamentals of entire economies and industries around the globe. Past performance does not guarantee future results. In 1940, automaker Henry Ford said, "Mark my words: a combination airplane and motorcar is coming." Flying cars could initially gain market share from cars on the road, planes and public transportation. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. The autonomous-vehicle industry has been a hot sector for investment banks in recent years, and Regina Savage has emerged as one of the industry's key dealmakers, Brennan said. Privately placed and restricted securitiesmay be subject to resale restrictions as well as a lack of publicly available information, which will increase their illiquidity and could adversely affect the ability to value and sell them (liquidity risk). Counterpoint Global investigates the impact of quantum computers and its potential to tackle previously unsolvable computing problems. At Morgan Stanley, we put our beliefs to work. The Morgan Stanley Freight Transportation team believes that autonomous and semiautonomous driving technology will be adopted far faster in the cargo markets than in passenger markets. During a brief appearance at a Morgan Stanley conference today, CEO Elon Musk briefly commented that the vehicles to be built on Tesla's next-gen platform will operate "almost entirely in. Today's shared vehicles still have drivers, but if the market's full potential is to be reached, that too will change. At Morgan Stanley, we lead with exceptional ideas. Your Privacy Choices The coming of autonomous vehicles could change our conception of personal transportation. "We see the first serious application of fully autonomous transport to be in the form of public-private partnerships at a hyper-localized level of a city center," Jonas says. From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. One of the Morgan Stanley's report clearly estimates that replacing traditional automobiles with autonomous cars in the United States alone could contribute . See how we can help you work toward your goalseven as they evolve over years or generations. The list features employees from Tesla, Zoox, Morgan Stanley, and more. Reducing the cost, decreasing noise and creating aircraft that essentially levitatenot takeoff via a runawayare also key considerations. Motional expects to start adding robotaxis to Via's network during the first half of this year. Spurred in part by existing and proposed emissions legislation that could sharply increase the cost of manufacturing internal combustion engines, as many as one billion battery electric vehicles (BEVs) could be on the road throughout the world by 2050. The intersection of many technologies, such as ultra-efficient batteries, autonomous systems, and advanced manufacturing processes are spawning a flurry of activity in this space," says Adam Jonas, Head of Morgan Stanley's Global Auto and Shared Mobility research team. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. In November 2013 Morgan Stanley announced their blue paper report: "Autonomous Cars: Self-Driving the New Auto Industry Paradigm." The authors predicted trillions in savings but the announcement provided little data on where those savings would come from. Macro and thematic insights shaping the global investment landscape. However, it could also open up a whole new world of business across multiple sectors. At Morgan Stanley, youll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. This is a nascent market, and there will be many different ways to pay for BEV charging in the coming years.. The coming of autonomous vehicles could change our conception of personal transportation. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology. The risks of investing inemerging market countriesare greater than risks associated with investments in foreign developed countries. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. as well as fewer regulatory hurdles. We believe our greatest asset is our people. We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions. For the complete content and important disclosures, refer to the articles PDF. Traditional financial institutions try harnessing the blockchain to streamline operations and costs, while improving services and products for clients. But in a future of shared, autonomous vehicles with much higher utilization, electric cars make far more economic sense than their gasoline counterparts. Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. Its an opportunity to roll out the. Morgan Stanley's analyst team thinks the answer could be yes. Battery technology, processing and computing power, and advanced composite systems all overlap with eVTOL aircraft manufacturing. Plus, more Ideas. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. It is difficult to predict the timing, duration, and potential adverse effects (e.g. Hear their stories and learn about how they are redefining the terms of success. "He's probably looked at more AV companies than anybody anywhere," Brennan said. Before joining Zoox, Rege was an executive at Nvidia, where he oversaw the development of the company's automated-driving platform and drone technology. natural disasters, health crises, terrorism, conflicts and social unrest) that affect markets, countries, companies or governments. Autonomous vehicles could change not only the way we move from point A to point B, but also how we live our lives. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. 5 Sustainable Investing Trends for Companies and Investors, 7 Investment Ideas That Could Drive Markets in 2023, Yes, You Can Be a Tech Innovator at Morgan Stanley, hours people spend annually driving and riding in cars, India, a country with growing Internet access. Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. Illiquid securitiesmay be more difficult to sell and value than public traded securities (liquidity risk). After an exceptional year for mergers and acquisitions in 2018, Morgan Stanley bankers expect the market to stay strong, albeit with some shifting dynamics. It's still early days for urban air mobility, but Morgan Stanley Research believes that autonomous aircraft could be common by 2040. Demand for battery components like copper, cobalt and lithium could increase sharply, as could prices. However, the Morgan Stanley team doesn't believe technology will be an ultimate limiting factor. We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions. Morgan Stanley is differentiated by the caliber of our diverse team. Hear their stories and learn about how they are redefining the terms of success. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. For European banks, financial inclusion is not only socially responsibleit may help drive sustained economic growth in emerging markets. "They've made some really good progress," said Abuelsamid, who speaks with Argo regularly. Stay abreast of the latest trends and developments. The Market Monitor series includes a wide array of market charts and views to guide your investing discussions. Our collaborative work with the Morgan Stanley Global Telecom team suggests that autonomous cars can produce as much as 40 TB of data/hour, which is equivalent to 1 to 3 thousand years of iPhone data usage. 2 2016 Was the Deadliest Year on American Roads in Nearly a Decade, Fortune, February 15, 2017. Road traffic injuries, World Health Organization, August 16, 2017. Everything we do at Morgan Stanley is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back. Its parent company is seemingly happy with the progress it's making; GM expects to spend $2 billion on the autonomous vehicle subsidiary in 2022. We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology. Subscriptions The global presence that Morgan Stanley maintains is key to our clients' success, giving us keen insight across regions and markets, and allowing us to make a difference around the world. That pace of growth is much higher than the estimated production of cars and light vehicles during the same period. Before Cruise, Elshenawy led tech development for Amazon's ReCommerce service and warehouse offerings. 2023Morgan Stanley. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. Over 90% of all traffic accidents are caused by human error.1 With 40,000 U.S. traffic fatalities and 1.2 million globally every year,2 removing humans from the driving equation could significantly reduce accidentspotentially benefiting both vehicle-related injury and mortality while reducing health care spending and the potential revenue opportunity for property and casualty insurance. Motional is one of two companies that operate autonomous ride-hailing vehicles that are open to the public. From our origins as a small Wall Street partnership to becoming a global firm of more than 80,000 employees today, Morgan Stanley has been committed to clients and communities for 87 years. We lead with exceptional ideas, prioritize diversity and inclusion and find meaningful ways to give backall to contribute to a future that benefits our clients and communities. Check the background of Our Firm and Investment Professionals on FINRA's Broker/Check. Hannah Miao @hannahmiao_. Tell us about yourself. We value our commitment to diverse perspectives and a culture of inclusion across the firm. As expected, addressing safety will be at the top of regulators' lists. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. The report projects a total addressable market of $1.5 trillion for autonomous aircraft by 2040, creating opportunities for investors and benefiting a host of sectors along the way. Trucks is one of the top venture-capital firms in the autonomous-vehicle industry. However, OEMS and suppliers which provide superior technology (hardware, software, integrated experiential design) or quality and scale for key features (fuel efficiency, safety, lightweight materials, etc.) We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. Autonomous cars combine a variety of techniques to perceive their surroundings, including radar, laser light, GPS, odometry, and computer vision. Autonomous vehicles on the other hand remove the human bottleneck and the economics change substantially.". Privacy & Cookies The first challenge was for participants to demonstrate the safe operation of a piloted or remotely piloted aircraft capable of carrying at least one adult passenger within a simulated, challenging urban environment.". Tell us about yourself. $TSLA pic.twitter.com/P4wD5TtDUH A timely analysis of market-changing events and their impact on the investment landscape. Counterpoint Global discusses the evolution of enterprise drones and its disruptive impact. Puneeth Meruva is the firm's "first filter" in deciding which companies to invest in, Trucks general partner Reilly Brennan told Insider. There is no assurance that a Portfolio will achieve its investment objective. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. Would you like to help us improve our coverage of topics that might interest you? Morgan Stanley is differentiated by the caliber of our diverse team. There is no assurance that a Portfolio will achieve its investment objective. 5 Sustainable Investing Trends for Companies and Investors, 7 Investment Ideas That Could Drive Markets in 2023, Yes, You Can Be a Tech Innovator at Morgan Stanley.
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