We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses. Tell us about yourself. 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 leverage the full resources of our firm to help individuals, families and institutions reach their financial goals. A monthly outlook for global fixed income markets, including an in-depth review of key sectors. We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions. Meet one of our Financial Advisors and see how we can help you. National Highway Transportation Safety A dministration (NHTSA 2013): Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. The services described on this website may not be available in all jurisdictions or to all persons. Its not surprising that so many firms are directing significant strategic efforts and investment toward delivering and monetizing content and data opportunities. From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. 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. This late in the business cycle, investors should emphasize actively-managed funds and income-producing securities with reasonable valuations. Sign up to get Morgan Stanley Ideas delivered to your inbox. It is important that users read the Terms of Use before proceeding as it explains certain legal and regulatory restrictions applicable to the dissemination of information pertaining to Morgan Stanley Investment Management's investment products. During her tenure, the Amazon-backed startup has signed deals with blue-chip companies like Toyota, Paccar, and Volvo. Ask your Morgan Stanley representative or Financial Advisor for the full report, "The Shared Autonomous 30" (Sep 22, 2016). In November 2013 Morgan Stanley announced their blue paper report: "Autonomous Cars: Self-Driving the New Auto Industry Paradigm." The authors predicted trillions in savings but the announcement provided little data on where those savings would come from. Underpinning all that we do are five core values. 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. At Morgan Stanley, youll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. For decades, the health of the automotive industry has been measured by the number of vehicles sold. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. Under Estrada, Nuro has also become the first company to test driverless vehicles in three states, a Nuro spokesperson told Insider. 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 expresses no views as to the suitability of the investments described herein to the individual circumstances of any recipient or otherwise. It is not addressed to any other person and may not be used by them for any purpose whatsoever. In its base case, these opportunities point to a total addressable market of $1.5 trillion by 2040. Autonomous vehicles could change not only the way we move from point A to point B, but also how we live our lives. Currently, they control much of the value of the car by designing and producing the major structures, powertrain, major systems and, of course, branding and distribution. A former trade negotiator for the Obama administration, Lia Theodosiou-Pisanelli is now Aurora's head of partnerships, product, and programs. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. To what degree these factors will impede or accelerate market change varies by country and region. Over 90% of all traffic accidents are caused by human error.1 With 40,000 U.S. traffic fatalities and 1.2 million globally every year,2 removing humans from the driving equation could significantly reduce accidentspotentially benefiting both vehicle-related injury and mortality while reducing health care spending and the potential revenue opportunity for property and casualty insurance. 2023Morgan Stanley. 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. 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. Please be aware that this Portfolio may be subject to certain additional risks. A comprehensive assessment of noteworthy trends shaping the global investment risk environment and our portfolio allocations. That number. We have the experience and agility to partner with clients from individual investors to global CEOs. 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. For instance, one of the key drivers of autonomous vehicle adoption is improved safety. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. Further, it could be much easier for new competitors to enter the market since a greater portion of vehicle parts could be outsourced. After all, 600 billion hours is a lot of time to spend in vehicles that you arent driving. For investors, the rise of autonomous vehicles has the potential to impact industries as far afield as health care, insurance, internet and infrastructure. While battery costs have dropped nearly 30% per year for the past five years, that decrease largely has been a function of improved production scale, which now is diminishing. 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. Not only is technology speeding in that direction, but, according to Morgan Stanleys recent Blue Paper report, "Global Investment Implications of Auto 2.0," the global auto market is ripe for major disruption. During Estrada's tenure, Nuro became the first autonomous-vehicle company to receive an exemption from select federal safety standards. Autonomous vehicles on the other hand remove the human bottleneck and the economics change substantially.". Long-term trends, including technology's impact on pricing, are likely to keep inflation at bay for longer than economists originally expected. Over 90% of all traffic accidents are caused by human error.1 With 40,000 U.S. traffic fatalities and 1.2 million globally every year,2 removing humans from the driving equation could significantly reduce accidentspotentially benefiting both vehicle-related injury and mortality while reducing health care spending and the potential revenue opportunity for property and casualty insurance. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. 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, one billion battery electric vehicles (BEVs). 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. Battery costs have been a major barrier to increasing BEV penetration. Before Cruise, Elshenawy led tech development for Amazon's ReCommerce service and warehouse offerings. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. 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. Derivative instrumentsmay disproportionately increase losses and have a significant impact on performance. 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. In China, for example, private car ownership is a symbol of status and wealth, says Jack Yeung, who covers Chinas auto and auto-parts industry. Its an opportunity to roll out the. Shared carstaxis and cars operated by ride-sharing companies, but not car rentalin 2015 accounted for 4% of global miles traveled, but by 2030, Morgan Stanley estimates that number could reach 26%. /pub/content/dam/im/json/imwebdata/im/data/misc/translation/translation.json, /pub/content/dam/im/json/imwebdata/im/data/misc/translation/aggTranslation.json. Stay abreast of the latest trends and developments. All investments involve risks, including the possible loss of principal. Add the hundreds of billions of hours people spend annually driving and riding in cars instead of engaging in other, potentially more productive (or stimulating) activity, and automotive transportation as practical utility and time-consuming necessity seems ripe for a redesigned consumer experience and relationship. If Zoox's all-in-one strategy pays off, Piper will have played a major role in making it work. Browning and Argo have also impressed Sam Abuelsamid, a research analyst at Guidehouse Insights who covers automotive technology. Battery technology, processing and computing power, and advanced composite systems all overlap with eVTOL aircraft manufacturing. For 87 years, weve had a passion for whats possible. A more bullish forecast places the market at $2.9 trillion. 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. 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. As a global financial services firm, Morgan Stanley is committed to technological innovation. We believe our greatest asset is our people. And, Farshchi added, Zoox's software has played a key role in setting the company apart from its competitors. But the shift to BEVs means up to 50% of the value of the car could migrate from mechanical to electrical systems and electronics. Counterpoint Global discusses the evolution of enterprise drones and its disruptive impact. For further details, please see our Terms of Use. See how we can help you work toward your goalseven as they evolve over years or generations. Not every day you see a chart like this in a street research piece. Semiconductors are also critical for improving the range of a BEV, and recent developments in silicon carbine technology offer the possibilities of 20% more mileage from a single battery pack, along with 20% less charging time. It is important that users read the Terms of Use before proceeding as it explains certain legal and regulatory restrictions applicable to the dissemination of information pertaining to Morgan Stanley Investment Management's investment products. Although the idea of flying cars may seem fantastical, much of the ecosystem is already in development in complementary technologies. From our startup lab to our cutting-edge research, we broaden access to capital for diverse entrepreneurs and spotlight their success. There is no assurance that a Portfolio will achieve its investment objective. 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. Several possibilities exist around the development of public stations, ranging from those sponsored by automakers and available only to drivers of their vehicles, to those financed and maintained by governments or utilities, or perhaps another model. A timely analysis of market-changing events and their impact on the investment landscape. Autonomous vehicles could change not only the way we move from point A to point B, but also how we live our lives. 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. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. Hardware makers could soon embed chips in their devices that replace SIM cards, a small change with significant implications for the mobile value chain. We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions. Stay abreast of the latest trends and developments. 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. As Motional's CTO, Laura Major oversees the technology behind those vehicles. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. Apple has about one-third of this market. 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. Derivative instrumentsmay disproportionately increase losses and have a significant impact on performance. 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. It could also unlock more than 600 billion hours per year of driver and passenger time currently spent in vehicles. Since Nuro's delivery vehicles don't carry people, the National Highway Traffic Safety Administration ruled they didn't need some features that would be required in passenger cars, like side mirrors and windshields. 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. 1 The Relative Frequency of Unsafe Driving Acts (Background), National Highway Traffic Safety Administration, August 15, 2017. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. At Morgan Stanley, we focus the expertise of the entire firmour advice, data, strategies and insightson creating solutions for our clients, large and small. Discover who we are and the right opportunity for you. Legacy suppliers for seats, wheels, tires and safety mechanisms should make the transition somewhat seamlessly, but powertrain, transmission and fuel systems manufacturers who have built business models around internal combustion will likely face headwinds as BEV adoption increases. Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. Our monthly Global Equity Observer shares our thoughts on world events as seen through the lens of our high quality investment process. See how we can help you work toward your goalseven as they evolve over years or generations. 2023Morgan Stanley. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. 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. Theodosiou-Pisanelli and her team are responsible for defining the products Aurora builds for its growing list of partners and running the programs that deliver them. For the complete content and important disclosures, refer to the, View All 1GT: Climate Investing Reinvented. "Miles" rather than cars sold" delivers the message that the industry is moving toward some combination of auto sales and incremental sales of auto-based transport. Market values can change daily due to economic and other events (e.g. Any performance quoted represents past performance. 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. These considerations, coupled with large amounts of capital infusion, should accelerate the adoption of autonomous, electrified urban air mobility. That's around a billion tons of TNTthe energy equivalent of some 60 thousand WWII-era atomic bombs. Autonomous cars combine a variety of techniques to perceive their surroundings, including radar, laser light, GPS, odometry, and computer vision. We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses. Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. The second augments human capabilitiesfor example, collaborating with a physician to diagnose diseases or even perform surgery. But in a future of shared, autonomous vehicles with much higher utilization, electric cars make far more economic sense than their gasoline counterparts. That technology has attracted investments from Ford and Volkswagen, which have put more than $3 billion into the Pittsburgh startup. While a handful of automakers have already launched BEVs, increased consumer interestand an increasingly tight regulation landscapewill lead others to do so. Investments inforeign marketsentail special risks such as currency, political, economic, market and liquidity risks. At Morgan Stanley, giving back is a core valuea central part of our culture globally. Along the way, plenty of other sectors will be figuring out how they can come along for the ride. Mobileye has been a leader in bringing automated-driving technology to the road through its advanced driver-assistance software and hardware. That pace of growth is much higher than the estimated production of cars and light vehicles during the same period. Benefits would include improved package delivery service to rural areas, decreased shipping costs and reduced congestion in urban areas. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. At Morgan Stanley, giving back is a core valuea central part of our culture globally. A timely analysis of market-changing events and their impact on the investment landscape. According to Nicholas Ashworth, Co-Head of European Utilities Research, a consensus has yet to emerge on the number of public charging points needed to service the BEV fleet. Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. As Zach said in that article, Morgan Stanley was warning potential investors that Tesla could go up a lot or down a lot. Before joining Tesla, in 2017, he worked at OpenAI as a research scientist. Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. At Morgan Stanley, we lead with exceptional ideas. At Morgan Stanley, we lead with exceptional ideas. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. Morgan Stanley Distribution, Inc. 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 . Privacy & Cookies 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.. After an exceptional year for mergers and acquisitions in 2018, Morgan Stanley bankers expect the market to stay strong, albeit with some shifting dynamics. See how we can help you work toward your goalseven as they evolve over years or generations. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. Illiquid securitiesmay be more difficult to sell and value than public traded securities (liquidity risk). It's the only custom-built robotaxi that can drive up to 75 mph, a Zoox representative said. All rights reserved. The first challenge was for participants to demonstrate the safe operation of a piloted or remotely piloted aircraft capable of carrying at least one adult passenger within a simulated, challenging urban environment.". In a research report, Morgan Stanley predicted that widespread adoption of autonomous vehicles would contribute $1.3 trillion to the U.S. economy through cost savings from reduced fuel. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. Finally, mass adoption of BEVs will also require a more robust charging infrastructure which could present opportunities for utilities and capital goods. The 100-year-old auto industry, engineered for success based on millions of units sold, is facing unprecedented technological disruption from shared, autonomous and electric mobility, and has begun to rethink and remodel its business strategies around "trillions of miles traveled.". 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. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. However, it could also open up a whole new world of business across multiple sectors. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley. Proprietary views on big ideas with the potential for far-reaching consequences. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. Regina Savage, global head of automotive and mobility technology, Morgan Stanley Regina Savage The autonomous-vehicle industry has been a hot sector for investment banks in recent years,. Electric utilities would benefit from the shift away from the pump to plug-in charging, as electric vehicles gain more consumer traction. For the complete content and important disclosures, refer to the articles PDF. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. But the ultimate goal of industry leaders is moving people. Let's start with Morgan Stanley. 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. "We expect a potential announcement of proof of reality in a North American metropolitan area as early as 2016.". Terms of Use. Proprietary views on big ideas with the potential for far-reaching consequences. 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. In-depth insights on emerging and global markets for spotting hot growth stories. At Morgan Stanley, giving back is a core valuea central part of our culture globally. At Morgan Stanley, we lead with exceptional ideas. David Estrada oversees Nuro's policy, legal, communications, and safety teams. Any charts and graphs provided are for illustrative purposes only. At Morgan Stanley, we put our beliefs to work. From our startup lab to our cutting-edge research, we broaden access to capital for diverse entrepreneurs and spotlight their success. 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. Counterpoint Global discusses the evolution of enterprise drones and its disruptive impact. As expected, addressing safety will be at the top of regulators' lists. Improvements in batteries, artificial intelligence and satellite communications are also expanding the possibilities. We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology. For 87 years, weve had a passion for whats possible. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. For European banks, financial inclusion is not only socially responsibleit may help drive sustained economic growth in emerging markets. How this transition plays out will have significant impact on component suppliers, semiconductor manufacturers, commodities, chemical producers and players in capital goods. 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. will be well-positioned for long-term growth. In logistics, drone package delivery is in active testing. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. At Morgan Stanley, youll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. It's still early days for urban air mobility, but Morgan Stanley Research believes that autonomous aircraft could be common by 2040. We have the experience and agility to partner with clients from individual investors to global CEOs. For example, with an ability to make four times as many trips as a regular car, flying cars could revolutionize the ride-sharing industry. Brett Browning leads the development of Argo AI's automated-driving technology. Meet one of our Financial Advisors and see how we can help you. From our startup lab to our cutting-edge research, we broaden access to capital for diverse entrepreneurs and spotlight their success. Prior to making any investment decision, investors should carefully review the strategys relevant offering document. 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. At Morgan Stanley, we lead with exceptional ideas. 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. 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. Plus, moreIdeas. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. In general,equities securitiesvalues also fluctuate in response to activities specific to a company. For instance, one of the key drivers of autonomous vehicle adoption is improved safety. Before joining Aurora, in 2019, she was Lyft's director of business development and strategy, where she focused on automated-driving technology. An early member of Zoox, Ashu Rege leads the company's software team. Reducing the cost, decreasing noise and creating aircraft that essentially levitatenot takeoff via a runawayare also key considerations. 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,. Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. Multicultural and women entrepreneurs are the cutting-edge leaders of businesses that power markets. All rights reserved. Would you like to help us improve our coverage of topics that might interest you? Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients.

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