The driverless vehicle industry is rapidly evolving, with significant investments pouring into research and development. While major players like Tesla and Waymo often capture the limelight, there are other companies making significant strides in this field. These lesser-known stocks could offer substantial growth opportunities for investors.
One such company is Luminar Technologies (NASDAQ:LAZR), which specializes in LiDAR technology crucial for autonomous vehicles. Their partnerships with major automotive manufacturers have positioned them as a critical supplier in the driverless car supply chain.
Another promising company is Velodyne Lidar, Inc. (NASDAQ:VLDR), known for its innovative sensor technologies that enhance vehicle safety and navigation. Despite facing competitive pressures, their continued innovation keeps them ahead in the market.
Lastly, Nuro, a robotics company focusing on last-mile delivery solutions, is creating waves with its driverless delivery vehicles. Although Nuro is still privately held, its collaborations with retail giants suggest a promising future once it goes public.
Investors looking to diversify their portfolios should consider these overlooked companies, as they hold the potential to disrupt the driverless vehicle industry significantly. As the technology matures and becomes more prevalent, these companies are likely to see increased demand for their products and services.
Footnotes:
- Luminar Technologies is a key supplier in the autonomous vehicle sector. Source.
- Velodyne Lidar continues to innovate despite competitive pressures. Source.
Featured Image: Megapixl @ Shutter2u
