From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. It is the responsibility of every person reading this material to fully observe the laws of any relevant country, including obtaining any governmental or other consent which may be required or observing any other formality which needs to be observed in that country. However, it could also open up a whole new world of business across multiple sectors. In a new BluePaper, Morgan Stanley Research says autonomous urban aircraft may no longer be the stuff of comic books. We have the experience and agility to partner with clients from individual investors to global CEOs. Finally, mass adoption of BEVs will also require a more robust charging infrastructure which could present opportunities for utilities and capital goods. As a global financial services firm, Morgan Stanley is committed to technological innovation. 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. The software has helped drive the introduction or improvement of numerous safety and convenience features, including automatic emergency braking and steering assistance, a Mobileye spokesperson said. 2023Morgan Stanley. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. From our startup lab to our cutting-edge research, we broaden access to capital for diverse entrepreneurs and spotlight their success. While many charging points will be private or residentialabout 1.8 million of the existing 2 million charge points worldwide now arequestions remain about the number of faster public charging stations required, who will provide and maintain them and which customers will be permitted to use them. All rights reserved. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. We value our commitment to diverse perspectives and a culture of inclusion across the firm. 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. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. We have the experience and agility to partner with clients from individual investors to global CEOs. 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. 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.". After an exceptional year for mergers and acquisitions in 2018, Morgan Stanley bankers expect the market to stay strong, albeit with some shifting dynamics. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. At Morgan Stanley, we focus the expertise of the entire firmour advice, data, strategies and insightson creating solutions for our clients, large and small. For the complete content and important disclosures, refer to the, View All 1GT: Climate Investing Reinvented. Discover who we are and the right opportunity for you. Ideas across disciplines uncover novel insights for sharper decision-making. Any charts and graphs provided are for illustrative purposes only. For 87 years, weve had a passion for whats possible. 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. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. 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. Hear their stories and learn about how they are redefining the terms of success. "They've made some really good progress," said Abuelsamid, who speaks with Argo regularly. 2 2016 Was the Deadliest Year on American Roads in Nearly a Decade, Fortune, February 15, 2017. Road traffic injuries, World Health Organization, August 16, 2017. There is no assurance that a Portfolio will achieve its investment objective. Tell us about yourself. 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. Morgan Stanley is differentiated by the caliber of our diverse team. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology. The first applications should take the form of small fleets, traveling slower than 25 miles per hour, fully autonomous, fully electric, and geographically limited to as little as one square mile. An early member of Zoox, Ashu Rege leads the company's software 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. As Zach said in that article, Morgan Stanley was warning potential investors that Tesla could go up a lot or down a lot. Yeung notes that the Chinese government has invested heavily in public transportation. Hayon, one of Mobileye's first employees, led the development of software that allows Mobileye ADAS systems to understand how nearby objects are moving so that they can warn the driver or take evasive action to avoid a collision. Information does not address financial objectives, situation or specific needs of individual investors. 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. What are the implications of a future of shared, autonomous and electric vehicles? The beverage and restaurant sectors may be a somewhat unintended beneficiaries of autonomous vehicles. Battery technology, processing and computing power, and advanced composite systems all overlap with eVTOL aircraft manufacturing. Would you like to help us improve our coverage of topics that might interest you? 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. As of now, there are few battery-powered drones that can carry much more than 10 pounds. 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. Portfolios are subject tomarket risk, which is the possibility that the market values of securities owned by the Portfolio will decline and that the value of Portfolio shares may therefore be less than what you paid for them. Instead the regulatory and societal concerns surrounding the technology will need to catch up to the tech itself, Jonas says. 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,. MORGAN STANLEY RESEARCH November 6, 2013 Autonomous Cars: Self-Driving the New Auto Industry Paradigm Contributors to this Report Autos & Auto-Related Ravi Shanker1 Adam Jonas1 Paresh Jain1 Yejay Ying1 +1 (212) 761-6350 +1 (212) 761-1726 +1 (212) 761-3354 +1 (212) 761-7096 Autonomous vehicles could change not only the way we move from point A to point B, but also how we live our lives. The semiconductor industry has benefited for decades from the digitalization of vehicles and driving in general, but autonomous cars represent a sophisticated blend of computer power and artificial intelligence for navigating the countless number of real-world driving scenariosin real time. Hayon is leading the company's work on self-driving technology with an approach the company calls "true redundancy." Driven an hour a day, savings on gasoline from electrification aren't sufficient to justify the upfront added cost of the car. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. A comprehensive assessment of noteworthy trends shaping the global investment risk environment and our portfolio allocations. Check the background of our firm and registered representatives on FINRA's BrokerCheck. We provide comprehensive workplace financial solutions for organizations and their employees, combining personalized advice with modern technology. Battery costs have been a major barrier to increasing BEV penetration. At Morgan Stanley, giving back is a core valuea central part of our culture globally. In the autonomous-vehicle industry, it can be difficult to identify the most important supporting players from the outside. The services described on this website may not be available in all jurisdictions or to all persons. "Your car is arguably one of the most underutilized, polluting, time-consuming and dangerous machines on Earth," says Adam Jonas, head of global auto research for Morgan Stanley. Accordingly, you can lose money investing in this Portfolio. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. All investments involve risks, including the possible loss of principal. Investments inforeign marketsentail special risks such as currency, political, economic, market and liquidity risks. Past performance does not guarantee future results. The path from here involves many hundreds of billions of dollars of capital investment across the sector stack including autos, commodities, cap goods and the supporting infrastructure.. Across all our businesses, we offer keen insight on today's most critical issues. At Morgan Stanley, we focus the expertise of the entire firmour advice, data, strategies and insightson creating solutions for our clients, large and small. Before joining Zoox, Rege was an executive at Nvidia, where he oversaw the development of the company's automated-driving platform and drone technology. The Market Monitor series includes a wide array of market charts and views to guide your investing discussions. May 1 (Reuters) - Morgan Stanley is planning to eliminate about 3,000 jobs in the second quarter, a source told Reuters on Monday, in its second round of job cuts in six months. We offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. 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." While CEOs and founders get most of the attention in the startup world, even the best leaders need a strong team behind them. 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. While a future of shared, autonomous and electric vehicles may well be the consequence of disruption, the actual development of those cars will be complex. The U.S. car parc consumes around 1,200 terawatt hours of equivalent electrical energy each year. A former trade negotiator for the Obama administration, Lia Theodosiou-Pisanelli is now Aurora's head of partnerships, product, and programs. For instance, one of the key drivers of autonomous vehicle adoption is improved safety. One of the Morgan Stanley's report clearly estimates that replacing traditional automobiles with autonomous cars in the United States alone could contribute . See how we can help you work toward your goalseven as they evolve over years or generations. More companies are designing for the IoT, using tiny low-cost sensors to enable connectivity and controlgiving a boost to the semiconductor sector. There is no assurance that a Portfolio will achieve its investment objective. Electric utilities would benefit from the shift away from the pump to plug-in charging, as electric vehicles gain more consumer traction. But what are the business implications for manufacturers as the world flips the switch from combustion to battery? They also may be subject to counterparty, liquidity, valuation, correlation and market risks. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. Slow dealmaking. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. 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. It is difficult to predict the timing, duration, and potential adverse effects (e.g. Hear their stories and learn about how they are redefining the terms of success. Morgan Stanley analyst Katy Huberty explained the profit potential for Apple in a research note she issued in January. At Morgan Stanley, we lead with exceptional ideas. For instance, one of the key drivers of autonomous vehicle adoption is improved safety. Share.
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. For automakers, BEVs are a game changer. In the auto supply chain, BEVs could drive new opportunities for suppliers since newer products typically have higher prices and higher margins. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. 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. During Estrada's tenure, Nuro became the first autonomous-vehicle company to receive an exemption from select federal safety standards. For investors, the rise of autonomous vehicles has the potential to impact industries as far afield as health care, insurance, internet and infrastructure. It may have taken professional auto industry analysts some time to understand the impact of autonomous vehicles. Our board of directors and senior executives hold the belief that capital can and should benefit all of society. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. Autonomous cars combine a variety of techniques to perceive their surroundings, including radar, laser light, GPS, odometry, and computer vision. All rights reserved. From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. "Laura and the Motional team are behind some of the self-driving industry's largest leaps forward," a Motional spokesperson told Insider. All rights reserved. Any charts and graphs provided are for illustrative purposes only. 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 offer scalable investment products, foster innovative solutions and provide actionable insights across sustainability issues. See how you can make meaningful contributions as a student or recent graduate at Morgan Stanley. For the complete content and important disclosures, refer to the articles PDF. Sign up to get Morgan Stanley Ideas delivered to your inbox. The second augments human capabilitiesfor example, collaborating with a physician to diagnose diseases or even perform surgery. Andrej Karpathy is a key figure behind the development of Tesla's Autopilot driver-assistance system. We believe our greatest asset is our people. Andy Piper has led the development of Zoox's eponymous vehicle, which the company unveiled in 2020. How to pay for such charging also remains an open question, now that free charging seems to have gone by the wayside. 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. JPMorgan Chase is acquiring all the deposits and 'substantially all of the assets' of regional . 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. 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. Piper is an auto-industry veteran with a rsum that included Saab, Ferrari, and Qoros Auto before he landed at Zoox in 2016. A comprehensive assessment of noteworthy trends shaping the global investment risk environment and our portfolio allocations. Morgan Stanley is differentiated by the caliber of our diverse team. Morgan Stanley is differentiated by the caliber of our diverse team. 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, hours people spend annually driving and riding in cars, India, a country with growing Internet access. portfolio liquidity) of events. All investments involve risks, including the possible loss of principal. Across all our businesses, we offer keen insight on today's most critical issues. A monthly outlook for global fixed income markets, including an in-depth review of key sectors. Our monthly Global Equity Observer shares our thoughts on world events as seen through the lens of our high quality investment process. Morgan Stanley has developed a framework to assess the appeal of shared, autonomous and electric vehicles in particular countries and regions. Warning investors that a Tesla stock is high risk and high reward is his. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. In general,equities securitiesvalues also fluctuate in response to activities specific to a company. 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,. Tell us about yourself. We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions. That number. At Morgan Stanley, youll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. Legal issues and likely objections to autonomous technology from auto workers and dealers are also discouraging, but not enough to halt development, Jonas says. While it's true that electric cars have hardly taken the market by storm, Jonas notes that, today, the same low utilization of private cars that so invites market disruption also torpedoes any cost efficiencies an electric car could deliver. 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. Autonomous car networks can create and consume massive amounts of wireless data. Derivative instrumentsmay disproportionately increase losses and have a significant impact on performance. Sign up to get Morgan Stanley Ideas delivered to your inbox. Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. However, OEMS and suppliers which provide superior technology (hardware, software, integrated experiential design) or quality and scale for key features (fuel efficiency, safety, lightweight materials, etc.) Meet one of our Financial Advisors and see how we can help you. The car you summon from your smartphone doesn't have a driver. The autonomous-vehicle industry has been a hot sector for investment banks in recent years, and Regina Savage has emerged as one of the industry's key dealmakers, Brennan said. Stay abreast of the latest trends and developments. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. At Morgan Stanley, we put our beliefs to work. document.write(new Date().getFullYear()); MorganStanley.All rights reserved. Shipping goods would likely be the first use case because of the lower degree of technological barriers (weight, size, etc.) 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. Find a Financial Advisor, Branch and Private Wealth Advisor near you. The natural solution appears to be more shared vehicles. Before Cruise, Elshenawy led tech development for Amazon's ReCommerce service and warehouse offerings. Motional expects to start adding robotaxis to Via's network during the first half of this year. It is difficult to predict the timing, duration, and potential adverse effects (e.g. The Morgan Stanley Freight Transportation team believes that autonomous and semiautonomous driving technology will be adopted far faster in the cargo markets than in passenger markets. A timely analysis of market-changing events and their impact on the investment landscape. 2023Morgan Stanley. That technology has attracted investments from Ford and Volkswagen, which have put more than $3 billion into the Pittsburgh startup. These Stocks Are Moving the Most Today: First Republic, JPMorgan, Iveric Bio, Carvana, GM, and More. 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. "He's probably looked at more AV companies than anybody anywhere," Brennan said. See how we can help you work toward your goalseven as they evolve over years or generations. See how you can continue your career journey at Morgan Stanley. 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. Illiquid securitiesmay be more difficult to sell and value than public traded securities (liquidity risk). Its more like a freight train that starts slow, builds momentum, and then pulls a lot of weight for the long haul. Counterpoint Globals culture fosters collaboration, creativity, continued development, and differentiated thinking. According to PitchBook, it's tied with three VC firms for the highest number of investments in autonomous-vehicle companies with 18. Global institutions, leading hedge funds and industry innovators turn to Morgan Stanley for sales, trading and market-making services. 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. 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.
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