Robotaxi welcomes its "iPhone moment": buying a car with a steering wheel now is no different from choosing a "BlackBerry" in 2006

Autonomous taxi technology is experiencing a historic breakthrough. Morgan Stanley's latest research believes that driven by generative artificial intelligence, massive capital competition, and geopolitical competition, autonomous taxis are finally ready to enter the commercialization era after more than a decade of ups and downs.

According to Chasing Wind Trading Desk, the team led by Morgan Stanley analyst Adam Jonas stated in its latest Global Automotive Observations report that this technological breakthrough could have a disruptive impact on the traditional automotive market, and purchasing cars with steering wheels may soon become as outdated as buying a BlackBerry phone in 2006.

Technological Breakthrough Accelerates Commercialization Process

Morgan Stanley believes that the rapid development of generative artificial intelligence technology has brought a qualitative leap to autonomous driving technology. The report points out that current technological advancements have finally made it possible for autonomous taxi services to be commercially viable on a large scale, marking a transformative moment similar to the iPhone's introduction in 2007.

Analysts indicate that massive capital investments are accelerating the maturation of this technology. Tech giants such as Tesla and Google Waymo, as well as traditional automakers, are significantly increasing their investments in autonomous driving technology, creating an intense competitive landscape.

Geopolitical factors are also driving countries to accelerate the development of their own autonomous driving capabilities. Governments worldwide view autonomous driving technology as a key area for future transportation and technological competitiveness, and are introducing supportive policies.

Focus on Leading Automakers

Currently, global electric vehicle sales continue to maintain strong growth momentum, with June's global electric vehicle sales increasing by 30% year-on-year to 1.26 million units, primarily driven by the Chinese market. In June, electric vehicle sales in China grew by 43% year-on-year, Europe by 23%, while the U.S. market remained relatively flat.

Based on optimistic expectations for the future of autonomous taxis, Morgan Stanley maintains an "overweight" rating on Tesla, with a target price of $410, representing a 28% upside from the current price. Analysts believe that Tesla's advantages in autonomous driving technology and data accumulation will be fully realized in the new era.

The investment bank is also optimistic about other companies with competitive advantages in the fields of autonomous driving and electric vehicles.

The report emphasizes that with the popularization of autonomous taxi services, traditional car ownership models may face fundamental changes. Consumers may be more inclined to use on-demand mobility services rather than purchasing private cars, which will have a profound impact on the entire automotive industry chain