Technology sometimes has a way of becoming a reality long before it is expected. In 2000, when “The 6th Day” was released, with Arnold Schwarzenegger starring as the lead actor, who would have guessed that only sixteen years later autonomous cars like those featured in the movie would be a reality? The fact is that the next time you decide to purchase a new Nissan or Ford in Greenwood, Terre Haute, or any of the Greater Indiana Area cities, you may have more than one autonomous car to choose from.
With more than nineteen car companies striving to get the autonomous vehicle technology on the market by 2020, now is a good to invest in autonomous car stock, but which ones are the best bets for your investment?
- Velodyne Inc – Baidu is a Chinese company which is producing the Yun Xiao, a name which translates into “Cloud Ride.” According to CNN, The vehicle looks much like a traditional sedan, other than the Light Detection and Ranging device that is constantly spinning on the roof.
The LIDAR device is always scanning the surroundings with the built-in sensors and cameras. The results of the scan are fed into a computer so that anything that might cause a crash can be detected. The LIDAR technology is a key component of autonomous cars. Baidu Inc. and Ford are leading a $175 million investment round in Velodyne, Inc., the company responsible for developing LIDAR.
- Tesla – One of the biggest reasons that Tesla stock is considered a top pick for stock investments is that it is the one that came first. Tesla already has rudimentary autonomous features and is setting the path for a number of other companies looking to emulate it.
- Skyworks Solutions – Skyworks Solutions is a company that designs and builds the chips used to connect the different autonomous vehicles. The company has proven to be unusually creative at developing custom designs that make them stand apart. The company is also the maker of the majority of chips used in smartphones around the world.
The thing to keep in mind is that the best stock for your investment may not be all that close to your vehicle brand preference. When you want to invest in the best stocks for cars that drive themselves, look at the three listed above. When it’s more important to you to buy a Ford or Chevrolet in Terre Haute that you can drive yourself, you can still get the best deals at Community Cars. Call 812-331-2250 to learn more about our deals!