Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. 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. The autonomous aircraft ecosystem would also include makers of sensors, batteries, aircraft parts, and the software systems to operate the vehicles, monitor aircraft traffic, provide network security and more. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. From a list of more than 40 people, Insider selected those who appear to be having the greatest influence on their companies and the industry as a whole. For example, with an ability to make four times as many trips as a regular car, flying cars could revolutionize the ride-sharing industry. Motional is one of two companies that operate autonomous ride-hailing vehicles that are open to the public. Privacy & Cookies Today's shared vehicles still have drivers, but if the market's full potential is to be reached, that too will change. 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 . Hardware makers could soon embed chips in their devices that replace SIM cards, a small change with significant implications for the mobile value chain. 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. Cathode manufacturers are gearing up for substantial increases in production but could face associated pressure on their pricing levels. Apple's potential autonomous car is called the ultimate EV bear case by Morgan Stanley Nov. 19, 2021 7:50 AM ET Apple Inc. (AAPL) , TSLA , APTV , BWA GM , AN , CAR , RACE , CVNA , QS , FSR , LCID . It could also unlock more than 600 billion hours per year of driver and passenger time currently spent in vehicles. It is difficult to predict the timing, duration, and potential adverse effects (e.g. In its base case, these opportunities point to a total addressable market of $1.5 trillion by 2040. Prior to 2026, Morgan Stanley predicts our cars will be able to be driven autonomously, but the driver will need to remain attentive in the case of an emergency, as the infrastructure for autonomous cars will not be fully developed. 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. All investments involve risks, including the possible loss of principal. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. 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. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. Yet, its worth considering: Passengers in autonomous vehicles wont just be consuming media, entertainment and next-gen broadband connectivitythey will likely also be eating and drinking, without having to worry about safety. will be well-positioned for long-term growth. 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). Our monthly Global Equity Observer shares our thoughts on world events as seen through the lens of our high quality investment process. Beyond the production of the cars themselves, several other factors will affect their take, including cultural views surrounding private car ownership, the legal implications of driverless cars and the level, if any, of government support. See how you can continue your career journey at Morgan Stanley. Mobileye has been a leader in bringing automated-driving technology to the road through its advanced driver-assistance software and hardware. Such a future of shared, fully electric, driverless cars on demand is closer to reality than it might appear. They also may be subject to counterparty, liquidity, valuation, correlation and market risks. Its an opportunity to roll out the. Warning investors that a Tesla stock is high risk and high reward is his. As a global financial services firm, Morgan Stanley is committed to technological innovation. 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. Browning and Argo have also impressed Sam Abuelsamid, a research analyst at Guidehouse Insights who covers automotive technology. Prior to making any investment decision, investors should carefully review the strategys relevant offering document. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley. 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. 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.. During Elshenawy's tenure at Cruise, the company's approach has impressed experts, who have ranked Cruise among the most promising autonomous-vehicle companies. In general,equities securitiesvalues also fluctuate in response to activities specific to a company. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. 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. All rights reserved. Piper is an auto-industry veteran with a rsum that included Saab, Ferrari, and Qoros Auto before he landed at Zoox in 2016. 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). In the auto supply chain, BEVs could drive new opportunities for suppliers since newer products typically have higher prices and higher margins. Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer of the Global Balanced Risk Control (GBaR) Team, shares his macro thematic views on key market drivers. Macro and thematic insights shaping the global investment landscape. Any charts and graphs provided are for illustrative purposes only. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. She's helped put together funding rounds and acquisitions for companies like TuSimple and NuTonomy, the startup that turned into Motional. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. Slow dealmaking. Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. Discover who we are and the right opportunity for you. The first can perform tasks independently without human intervention, such as the operation of autonomous vehicles, personal assistants and drones. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. 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. A transition to electric vehicles could be equal to one-third of total U.S. A timely analysis of market-changing events and their impact on the investment landscape. 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. 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. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. Motional A joint venture between Aptiv and. At Morgan Stanley, youll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. Automated driving technology relies heavily on continuous, high-precision, and high-reliability positioning in complex urban situations. To identify the unheralded stars, we surveyed analysts, venture capitalists, industry experts, and autonomous-vehicle companies to nominate essential employees who aren't CEOs. At Morgan Stanley, we put our beliefs to work. Across all our businesses, we offer keen insight on today's most critical issues. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. That pace of growth is much higher than the estimated production of cars and light vehicles during the same period. Investments inforeign marketsentail special risks such as currency, political, economic, market and liquidity risks. Toward that end, the CEO of a major airplane manufacturer announced in September, 2018, that the company is investing in urban mobility and flying taxis." Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. Improvements in batteries, artificial intelligence and satellite communications are also expanding the possibilities. For instance, one of the key drivers of autonomous vehicle adoption is improved safety. Battery costs have been a major barrier to increasing BEV penetration. Autonomous vehicles on the other hand remove the human bottleneck and the economics change substantially.". The U.S. car parc consumes around 1,200 terawatt hours of equivalent electrical energy each year. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients. 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. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. Derivative instrumentsmay disproportionately increase losses and have a significant impact on performance. 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. Before joining Aurora, in 2019, she was Lyft's director of business development and strategy, where she focused on automated-driving technology. Before joining Nuro, Estrada helped develop early autonomous-vehicle regulations at Google. Puneeth Meruva is the firm's "first filter" in deciding which companies to invest in, Trucks general partner Reilly Brennan told Insider. Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. In a new BluePaper from Morgan Stanley Research, a cross-section of the firms equity analysts detail how investment in autonomous flying aircraft is accelerating, with implications for the future of passenger travel, military and defense applications, and freight and package transportation. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. Andrej Karpathy is a key figure behind the development of Tesla's Autopilot driver-assistance system. Se lf-Driving the New Auto Industry Pa r-adigm; November 2013. Under that scenario, by mid-century BEVswould comprise as much as 90% of all vehicle sales. Long-term trends, including technology's impact on pricing, are likely to keep inflation at bay for longer than economists originally expected. 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. "In True Redundancy, Hayon has designed for future AVs a system that ensures uncompromised safety and unmatched scalability," the spokesperson said. "I would credit a lot of what you find that's differentiating to him and his team," Farshchi said of Rege. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. We believe our greatest asset is our people. Any performance quoted represents past performance. Traditional financial institutions try harnessing the blockchain to streamline operations and costs, while improving services and products for clients. As Motional's CTO, Laura Major oversees the technology behind those vehicles. A comprehensive assessment of noteworthy trends shaping the global investment risk environment and our portfolio allocations. And, Farshchi added, Zoox's software has played a key role in setting the company apart from its competitors. There is no assurance that a Portfolio will achieve its investment objective. | Are autonomous cars the killer application for 5G? We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals. "Smartphones are a $500bn annual TAM. 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. At Morgan Stanley, we put our beliefs to work. Counterpoint Global consists of 56 people, including 32 investors, four disruptive change researchers, two consilient researchers and two sustainability researchers. 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. At Morgan Stanley, giving back is a core valuea central part of our culture globally. Elshenawy has helped Cruise engineers quickly test and deploy code while overseeing a cloud-computing infrastructure that held up well as the company shifted to a remote-work model in 2020, a Cruise representative said. Published Mon, Jan 17 20226:22 AM EST. We have the experience and agility to partner with clients from individual investors to global CEOs. 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 . At Morgan Stanley, giving back is a core valuea central part of our culture globally. 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. Consider that cars on average are in operation for only about an hour each day, but they account for 45% of global oil demand and, on average, 3,500 daily deaths worldwide." We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions. Underpinning all that we do are five core values. Not every day you see a chart like this in a street research piece. 2023Morgan Stanley. Andy Piper has led the development of Zoox's eponymous vehicle, which the company unveiled in 2020. Sign up to get Morgan Stanley Ideas delivered to your inbox. Morgan Stanley analyst Katy Huberty explained the profit potential for Apple in a research note she issued in January. 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. A monthly outlook for global fixed income markets, including an in-depth review of key sectors. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. $TSLA pic.twitter.com/P4wD5TtDUH 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, Head of Global Auto and Shared Mobility Research. Around half of the component cost of the battery cell is in the cathode. Hayon is leading the company's work on self-driving technology with an approach the company calls "true redundancy." For investors, the rise of autonomous vehicles has the potential to impact industries as far afield as health care, insurance, internet and infrastructure. Plus, more Ideas. At Morgan Stanley, we focus the expertise of the entire firmour advice, data, strategies and insightson creating solutions for our clients, large and small. Already, a few large automakers who dont have electric-powered models have announced plans to introduce their own BEV lines. Morgan Stanley's U.S. Research teams 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. Check the background of our firm and registered representatives on FINRA's BrokerCheck. Tell us about yourself. Ask your Morgan Stanley representative or Financial Advisor for the full report, "The Shared Autonomous 30" (Sep 22, 2016). 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. Across all our businesses, we offer keen insight on today's most critical issues. The services described on this website may not be available in all jurisdictions or to all persons. All investments involve risks, including the possible loss of principal. Companies in this space could benefit significantly from higher consumer adoption of electric vehicles. Counterpoint Global discusses psychedelics as medicine and its disruptive impact. For 87 years, weve had a passion for whats possible. "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. as well as fewer regulatory hurdles. See how we can help you work toward your goalseven as they evolve over years or generations. Hear their stories and learn about how they are redefining the terms of success. Portfolios are subject to, Prior to making any investment decision, investors should carefully review the strategys relevant offering document. A monthly publication featuring the Global Multi-Asset Teams latest views on the economic and market environment and how best to position portfolios. For further details, please see our Terms of Use. In general,equities securitiesvalues also fluctuate in response to activities specific to a company. As a global financial services firm, Morgan Stanley is committed to technological innovation. Would you like to help us improve our coverage of topics that might interest you? 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. The services described on this website may not be available in all jurisdictions or to all persons. In 1940, automaker Henry Ford said, Mark my words: a combination airplane and motorcar is coming. Ford was teased for the statement, but now, decades later, the same technologies that power drones and steer autonomous vehicles could launch flying cars from the pages of sci-fi comics to the skies of our cities. A Morgan Stanley team of analysts, including noted Apple analyst Katy Huberty, estimates that by 2040 the time humans spend inside cars will reach 1.2 trillion hours a year, up from 600. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. Portfolios are subject to, Prior to making any investment decision, investors should carefully review the strategys relevant offering document. "They've made some really good progress," said Abuelsamid, who speaks with Argo regularly. We value our commitment to diverse perspectives and a culture of inclusion across the firm. Morgan Stanley is differentiated by the caliber of our diverse team. 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. Drones and VTOLs could be part of the evolving solution of last-mile parcel delivery challenges, says Ravi Shanker, equity analyst covering the North American transportation industry. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. Market values can change daily due to economic and other events (e.g. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley. Limitations remain, primarily related to batteries and propulsion technology. 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. Counterpoint Globals culture fosters collaboration, creativity, continued development, and differentiated thinking. These considerations, coupled with large amounts of capital infusion, should accelerate the adoption of autonomous, electrified urban air mobility. Please be aware that this Portfolio may be subject to certain additional risks. 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. This late in the business cycle, investors should emphasize actively-managed funds and income-producing securities with reasonable valuations. The firm looks at about 100 startups a month, and Meruva is usually the first person to meet with them. Hear their stories and learn about how they are redefining the terms of success. Attracted by the promise of lower costs and stronger security for a range of transactions, financial institutions are testing Blockchain's potential. We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals. She's also helped coordinate the integration of Uber ATG's workforce into Aurora's following Aurora's 2020 acquisition of the unit. It is not addressed to any other person and may not be used by them for any purpose whatsoever. Investments inforeign marketsentail special risks such as currency, political, economic, market and liquidity risks. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. 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. Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. As a global financial services firm, Morgan Stanley is committed to technological innovation. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients. Meet one of our Financial Advisors and see how we can help you. See how we can help you work toward your goalseven as they evolve over years or generations. We believe our greatest asset is our people. For the complete content and important disclosures, refer to the, View All 1GT: Climate Investing Reinvented. 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. 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. Ideas across disciplines uncover novel insights for sharper decision-making. Morgan Stanley's Wilson Says Hawkish Fed Surprise to Roil Stocks. 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. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. Battery technology, processing and computing power, and advanced composite systems all overlap with eVTOL aircraft manufacturing. The market could likely begin as an ultra-niche add-on to existing transportation infrastructure, similar to how helicopters operate today. This move clearly indicates GM strategy to invest heavily on electric and autonomous cars and minimize expenses in current business to carve out ways to invest in new technologies. 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. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. 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. Morgan Stanley leadership is dedicated to conducting 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. Would you like to help us improve our coverage of topics that might interest you?

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