Global robotaxi market set to hit US$1t by 2040 as China tech costs plummet: Morgan Stanley

The global robotaxi sector is on track to become a US$1 trillion market by 2040, according to Morgan Stanley, with Chinese players like Baidu, Xpeng and WeRide primed to be regional front-runners alongside global leaders Tesla and Waymo. In a research note on Friday, the US investment bank forecast that falling manufacturing costs in China would act as a “major underappreciated accelerant” for the industry. Driven by cheaper supply chains, the cost of parts per vehicle for Chinese-made robotaxi...