California Proposes Banning Autonomous Trucks, While Waymo Expands in Arizona
For the week of May 29, 2023, The Road to Autonomy Index returned 3.40%, while the S&P 500 returned 2.57%. The top performing stocks in The Road to Autonomy Index this week were Tesla, Qualcomm and Amazon.
The California State Assembly voted 54-3 banning autonomous trucks over 10,000 pounds from operating without a safety driver on public roads. While in Arizona, Waymo is expanding fully driverless operations to 180 square miles in the Greater Phoenix region (Phoenix, Tempe and Scottsdale).
Uber, which is a component company is prospering under the leadership of Dara Khosrowshahi. Uber’s stock has returned 56.66% year to date because Uber is playing to it’s strengths and operating as a platform. Complete with utonomous vehicle ride-hailing partnerships with both Motional and Waymo.
The Road to Autonomy Index®
The Road to Autonomy Index is an autonomous vehicle index comprised of 38 publicly-traded companies. The Index is a rules-based equity benchmark index that is calculated by Standard and Poor’s Dow Jones Indices. The Index measures the performance of a basket of global companies that are involved in the development and commercialization of autonomous driving technologies.
Included in the Index are companies that are developing autonomous vehicles (self-driving cars), autonomous trucks and off-road specialty vehicles. As well as transportation, technology, industrial and services companies that have identified autonomy as a key component of their growth strategies.
Inclusion of a security within The Road to Autonomy Index® is not a recommendation by The Road to Autonomy Indices LLC to buy, sell, or hold such security, nor is it considered to be investment advice.