Would you like to help us improve our coverage of topics that might interest you? A transition to electric vehicles could be equal to one-third of total U.S. We have the experience and agility to partner with clients from individual investors to global CEOs. At Morgan Stanley, we focus the expertise of the entire firmour advice, data, strategies and insightson creating solutions for our clients, large and small. It is difficult to predict the timing, duration, and potential adverse effects (e.g. Find a Financial Advisor, Branch and Private Wealth Advisor near you. Macro and thematic insights shaping the global investment landscape. Proprietary views on big ideas with the potential for far-reaching consequences. Indeed, Many of the full benefits of a shared, electric, and autonomous ecosystem may take decades to fully play out, he says, but industry developments and investor appreciation of the technological path can have a material impact on share prices of select companies even over a three-year horizon.. During Estrada's tenure, Nuro became the first autonomous-vehicle company to receive an exemption from select federal safety standards. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. It expresses no views as to the suitability of the investments described herein to the individual circumstances of any recipient or otherwise. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients. Finally, mass adoption of BEVs will also require a more robust charging infrastructure which could present opportunities for utilities and capital goods. Prior to making any investment decision, investors should carefully review the strategys relevant offering document. That pace of growth is much higher than the estimated production of cars and light vehicles during the same period. At Morgan Stanley, we focus the expertise of the entire firmour advice, data, strategies and insightson creating solutions for our clients, large and small. Telecom and communications systems will be crucial to the shared, autonomous ecosystem, which will require a transformation of the supporting infrastructure to connect vehicles to other vehicles, and vehicles to infrastructure, handling high-volume data reliably and securely. It's still early days for urban air mobility, but Morgan Stanley Research believes that autonomous aircraft could be common by 2040. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. Autonomous vehicles on the other hand remove the human bottleneck and the economics change substantially.". It is not addressed to any other person and may not be used by them for any purpose whatsoever. We value our commitment to diverse perspectives and a culture of inclusion across the firm. She's helped put together funding rounds and acquisitions for companies like TuSimple and NuTonomy, the startup that turned into Motional. 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. But making an alternative a reality will require rethinking some assumptions. Morgan Stanley is differentiated by the caliber of our diverse team. 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. Its new report, Autonomous Vehicles & Municipal Bonds, puts the net positive impact on municipal budgets in excess of half a trillion dollars. These Stocks Are Moving the Most Today: First Republic, JPMorgan, Iveric Bio, Carvana, GM, and More. "The sooner investors can make the transformation, we believe the more industry events will make sense over the next 12 to 24 months, as the story of industry disruption likely unfolds," says Jonas, who first called out the emerging trend of shared mobility as early as 2014, and has since been exploring its ramifications through the auto industry, changes in consumer behavior and the evolving technologies reshaping this space. The semiconductor industry has benefited for decades from the digitalization of vehicles and driving in general, but autonomous cars represent a sophisticated blend of computer power and artificial intelligence for navigating the countless number of real-world driving scenariosin real time. Battery costs have been a major barrier to increasing BEV penetration. David Estrada oversees Nuro's policy, legal, communications, and safety teams. All investments involve risks, including the possible loss of principal. This material is a general communication, which is not impartial, is for informational and educational purposes only, not a recommendation to purchase or sell specific securities, or to adopt any particular investment strategy. In the auto supply chain, BEVs could drive new opportunities for suppliers since newer products typically have higher prices and higher margins. The beverage and restaurant sectors may be a somewhat unintended beneficiaries of autonomous vehicles. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. There is no assurance that a Portfolio will achieve its investment objective. Battery technology, processing and computing power, and advanced composite systems all overlap with eVTOL aircraft manufacturing. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. $TSLA pic.twitter.com/P4wD5TtDUH Automated driving technology relies heavily on continuous, high-precision, and high-reliability positioning in complex urban situations. Plus, moreIdeas. 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. Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. Se lf-Driving the New Auto Industry Pa r-adigm; November 2013. The firm looks at about 100 startups a month, and Meruva is usually the first person to meet with them. Morgan Stanley has valued Tesla's autonomous vehicle ride-sharing business, which does not yet exist, at $17.7 billion, about one-tenth of Waymo's value, yet still above GM Cruise, the . Ideas across disciplines uncover novel insights for sharper decision-making. Morgan Stanley Distribution, Inc. In 1940, automaker Henry Ford said, "Mark my words: a combination airplane and motorcar is coming." Before joining Zoox, Rege was an executive at Nvidia, where he oversaw the development of the company's automated-driving platform and drone technology. 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. Sign up to get Morgan Stanley Ideas delivered to your inbox. From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. Current numbers vary widely from country to country, depending on the maturity of the market. Underpinning all that we do are five core values. In recent months, Motional has taken the backup drivers out of some of its test vehicles and, in 2023, the company plans to expand its relationship with Lyft by launching a fully autonomous ride-hailing service. It is not addressed to any other person and may not be used by them for any purpose whatsoever. The interior of a Tesla . The market for private auto ownership is likely headed for disruption. Zoox has taken a difficult and unusual approach compared to its peers: While most of its rivals are focusing on automated-driving software or hardware, Zoox is designing and assembling an autonomous vehicle, all without the help of a major automaker. "Vehicle sharing can only take your vehicle utilization to about 50%-60% of its full potential, in our view," says Jonas. Before joining Morgan Stanley, Savage worked on mergers and acquisitions in the media industry at Goldman Sachs. 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. Motional A joint venture between Aptiv and. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. What are the implications of a future of shared, autonomous and electric vehicles? Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. A timely analysis of market-changing events and their impact on the investment landscape. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley. The U.S. car parc consumes around 1,200 terawatt hours of equivalent electrical energy each year. will be well-positioned for long-term growth. 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. 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. "Laura and the Motional team are behind some of the self-driving industry's largest leaps forward," a Motional spokesperson told Insider. For the complete content and important disclosures, refer to the articles PDF. From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. Motional is one of two companies that operate autonomous ride-hailing vehicles that are open to the public. Hear their stories and learn about how they are redefining the terms of success. Along the way, plenty of other sectors will be figuring out how they can come along for the ride. Brett Browning leads the development of Argo AI's automated-driving technology. 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. Morgan Stanley's analyst team thinks the answer could be yes. Meet one of our Financial Advisors and see how we can help you. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. Mobileye has been a leader in bringing automated-driving technology to the road through its advanced driver-assistance software and hardware. The industry implications for recasting the global mobility model extend far beyond just the auto industry, affecting large tranches of the economy and the investment landscape, says Adam Jonas, head of auto and shared mobility research at Morgan Stanley. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. 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. Cathode manufacturers are gearing up for substantial increases in production but could face associated pressure on their pricing levels. Tell us about yourself. Morgan Stanley: Autonomous Cars May Save US a Trillion Dollars Home Transportation [INFOGRAPHIC] Autonomous Cars Could Save The US $1.3 Trillion Dollars A Year Benjamin Zhang Sep 12,. At Morgan Stanley, we lead with exceptional ideas. 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. Mohamed Elshenawy has led Cruise's software team through a period of rapid growth as the company works toward launching robotaxi services in San Francisco and Dubai. Discover who we are and the right opportunity for you. In Europe, extensive public transportation options and the political strength of auto and parts manufacturers are obstacles to shared vehicle adoption, but electric vehicles bode well for the region's strengthening emissions standards. Were seeing opportunities for a growing fleet of electric, shared, and autonomous VTOL aircraft or other large terrestrial drones, says Rajeev Lalwani, lead analyst covering U.S. Airlines, Aerospace & Defense, and Aircraft Lessors. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. In fact, it doesn't even have a steering wheel, or pedals, or a gas tank. Counterpoint Global discusses psychedelics as medicine and its disruptive impact. Hear their stories and learn about how they are redefining the terms of success. For the complete content and important disclosures, refer to the articles PDF. There is no assurance that a Portfolio will achieve its investment objective. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. As expected, addressing safety will be at the top of regulators' lists. From our startup lab to our cutting-edge research, we broaden access to capital for diverse entrepreneurs and spotlight their success. 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. Meruva was a software engineer at Uber and BMW before joining Trucks. We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. Our monthly Global Equity Observer shares our thoughts on world events as seen through the lens of our high quality investment process. Most of the battery cell costs are driven by the price of materials and composition, Hendrikse says. Across all our businesses, we offer keen insight on today's most critical issues. We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals. Discover who we are and the right opportunity for you. 2023Morgan Stanley. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. It expresses no views as to the suitability of the investments described herein to the individual circumstances of any recipient or otherwise. 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. Aerospace & defense majors have been making investments, startups are attracting capital, and megatech platforms are actively involved. Electric utilities would benefit from the shift away from the pump to plug-in charging, as electric vehicles gain more consumer traction. 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. The first can perform tasks independently without human intervention, such as the operation of autonomous vehicles, personal assistants and drones. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Autonomous vehicles could change not only the way we move from point A to point B, but also how we live our lives. Electric-powered vehicles can deliver yet more efficiency. During her tenure, the Amazon-backed startup has signed deals with blue-chip companies like Toyota, Paccar, and Volvo. These include: low utilization (on average, cars are used 4% of a day, with an available seat-mile utilization of barely 1%); consumption of finite resources (cars consume 500 billion gallons of fuel a year, accounting for 45% of global oil demand); and public safety (roughly 3,500 traffic fatalities per day globally). For chemicals, lithium producers confront a chicken-and-egg problem where higher demand for electric vehicles cant be met without a far greater supply of battery-grade lithium, while the supply won't be added until EVs show greater end-market demand. 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. There are also schemes where the end user pays a fixed monthly fee affording them unlimited miles, akin to mobile phone pricing, says Ashworth. Advancements in mobile technology that allow users to summon cars from their smartphones have already made sharing more convenient, and more progress is to come. Given a combination of the right public policy, partnerships and positive outcomes for public health and safety, economic development and growth, the new models can adjust, optimize and scale up and out. The firm cites how cars are only utilized 4 percent of the time and more than 600 billion hours . Improvements in batteries, artificial intelligence and satellite communications are also expanding the possibilities. But now Morgan Stanley's Adam Jonas has come up with another ingenious 2-by-2 chart so much en vogue with international strategy consultants which highlights the core transformative forces at work. 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. We have the experience and agility to partner with clients from individual investors to global CEOs. At Morgan Stanley, we focus the expertise of the entire firmour advice, data, strategies and insightson creating solutions for our clients, large and small. Hannah Miao @hannahmiao_. We believe our greatest asset is our people. At Morgan Stanley, youll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. Browning was a senior faculty member of Carnegie Mellon's Robotics Institute and worked on mapping and localization technology for Uber's autonomous-vehicle unit before joining Argo, in 2016. Insider asked self-driving startups, analysts, and VCs to nominate the industry's biggest stars. Andy Piper has led the development of Zoox's eponymous vehicle, which the company unveiled in 2020. Counterpoint Global investigates the impact of quantum computers and its potential to tackle previously unsolvable computing problems. Morgan Stanley raised its previous enterprise value estimate for the Alphabet unit by $100 billion, with robotic trucking and delivery potential looking like a bigger revenue source than passenger . 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. It won't exceed 25 miles per hour, but it does have electric motors in all four wheels for slippery roads and tight corners. In other words, the skys the limit. Please be aware that this Portfolio may be subject to certain additional risks. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. Andrew Slimmon, lead portfolio manager of the Applied Equity Advisors suite of funds and strategies shares his TAKE -- Takeaways & Key Expectations on the financial markets. Before Cruise, Elshenawy led tech development for Amazon's ReCommerce service and warehouse offerings. Stay abreast of the latest trends and developments. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. Tell us about yourself. Investments inforeign marketsentail special risks such as currency, political, economic, market and liquidity risks. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley. At Morgan Stanley, giving back is a core valuea central part of our culture globally. Ask your Morgan Stanley representative or Financial Advisor for the full report, "The Shared Autonomous 30" (Sep 22, 2016). Plus, more Ideas. 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 more like a freight train that starts slow, builds momentum, and then pulls a lot of weight for the long haul. "Whenever I'm hearing about a big deal going down, I'm usually trying to get a hold of Regina to see what she's heard," he said. All rights reserved. We value our commitment to diverse perspectives and a culture of inclusion across the firm. While many charging points will be private or residentialabout 1.8 million of the existing 2 million charge points worldwide now arequestions remain about the number of faster public charging stations required, who will provide and maintain them and which customers will be permitted to use them. Wide adoption of BEVs will also expand the need for an entire new level of electrical and electronic systems that dont exist in internal combustion vehicles. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. Attracted by the promise of lower costs and stronger security for a range of transactions, financial institutions are testing Blockchain's potential. Morgan Stanley is differentiated by the caliber of our diverse team. For the complete content and important disclosures, refer to the, View All 1GT: Climate Investing Reinvented. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. That number. A monthly outlook for global fixed income markets, including an in-depth review of key sectors. Any charts and graphs provided are for illustrative purposes only. Although the idea of flying cars may seem fantastical, much of the ecosystem is already in development in complementary technologies. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. That's around a billion tons of TNTthe energy equivalent of some 60 thousand WWII-era atomic bombs. BEIJING, China, May 01, 2023 (GLOBE NEWSWIRE) -- Li Auto Inc. ("Li Auto" or the "Company") (Nasdaq: LI; HKEX: 2015), a leader in China's new . At Morgan Stanley, giving back is a core valuea central part of our culture globally. Legal issues and likely objections to autonomous technology from auto workers and dealers are also discouraging, but not enough to halt development, Jonas says. Would you like to help us improve our coverage of topics that might interest you? Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. For European banks, financial inclusion is not only socially responsibleit may help drive sustained economic growth in emerging markets. See how you can continue your career journey at Morgan Stanley. But the ultimate goal of industry leaders is moving people. Information does not address financial objectives, situation or specific needs of individual investors. However, as shared, autonomous vehicles become more widespread, Jonas suggests that total miles traveled may serve as a more useful yardstick because it better reflects not only the state of the market, but also the industry's evolving business model. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. The list features employees from Tesla, Zoox, Morgan Stanley, and more. Stay abreast of the latest trends and developments. A former trade negotiator for the Obama administration, Lia Theodosiou-Pisanelli is now Aurora's head of partnerships, product, and programs. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. Piper is an auto-industry veteran with a rsum that included Saab, Ferrari, and Qoros Auto before he landed at Zoox in 2016. At Morgan Stanley, giving back is a core valuea central part of our culture globally. Adam Jonas, Morgan Stanleys Head of Global Auto & Shared Mobility Research, says A confluence of competitive, technological and regulatory forces have pulled-forward auto makers plans to aggressively introduce EVs over the next 3 to 5 years vs. 20 to 25 years previously. However, the picture isnt entirely rosy for suppliers. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley. Improvements in the energy density of the cathodethe terminal through which electric current flowswill reduce the amount of metal required per kilowatt hour, thereby lowering the metal requirement and the metal price risk.. Urban Air Mobility Global Total Addressable Market (Base Case). Motional expects to start adding robotaxis to Via's network during the first half of this year. Flying cars could initially gain market share from cars on the road, planes and public transportation. 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. See how you can continue your career journey at Morgan Stanley. 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. Not every day you see a chart like this in a street research piece. 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. And, Brennan said, her connections are second to none. Tell us about yourself. It is the responsibility of every person reading this material to fully observe the laws of any relevant country, including obtaining any governmental or other consent which may be required or observing any other formality which needs to be observed in that country. . There is no assurance that a Portfolio will achieve its investment objective. We believe our greatest asset is our people. Would you like to help us improve our coverage of topics that might interest you? While it's true that electric cars have hardly taken the market by storm, Jonas notes that, today, the same low utilization of private cars that so invites market disruption also torpedoes any cost efficiencies an electric car could deliver.
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