The AV push is stronger than ever—and big players are making moves

The world of autonomous vehicles is buzzing, with companies like Tesla, General Motors, and Waymo, pushing hard to expand their operations in the space.

First things first: After being under the radar for a period, AVs are back in the spotlight as major focal points for automotive and mobility companies. Nearly every major vehicle operation is looking to ramp up its AV strategy in some capacity, spanning mass-market car brands to robotaxi services. 

• Tesla—a leader in the personal AV space—took another leap forward in its push to launch its autonomous robotaxi service, with California granting the company permission to own and manage a fleet of vehicles for pre-arranged trips with employees.

• Google’s Waymo—which provides about 200,000 driverless trips a week in San Franciso, Los Angeles, and Pheonix—is looking to build on its market positioning in the AV sector after being granted a 30-day permit to begin mapping roads at San Franciso Airport.

• GM aims to expand its business in the sector with the launch of a new partnership with Nvidia to leverage AI for its AV build process and the recent full acquisition of Cruise to adapt its autonomous tech into its personal vehicle strategy.   

By the numbers: A report by Goldman Sachs projects that by 2030, up to 10% of all global new car sales could be Level 3 autonomous vehicles, which enable drivers to take their eyes off the road and their hands off the wheel in select driving situations. The AV market appears to be just getting started, with its estimated global value of $1.7 trillion in 2024 expected to surge at a CAGR of 8.6% between 2025 and 2034.

Between the lines: A movement being led by organizations like the Alliance for Automotive Innovation—urging President Donald Trump to loosen up regulatory policies regarding self-driving vehicles—could spark even more investments in the AV sector if the President decides to address the group’s concerns. However, safety concerns with self-driving cars still are a major hurdle for regulators and consumers alike.  

• Tesla—widely credited as a pioneer in the AV space—has come under heavy criticism for collisions involving its self-driving technology, including a fatal 2023 crash, prompting the NHTSA to investigate nearly 2.6 million Tesla vehicles.  

• GM was required to pay a $1.5 million fine for failing to disclose details of a serious October 2023 crash involving a Cruise vehicle and a pedestrian before the company stopped funding the service. 

• A 2024 study by J.D. Power found that 83% of consumers say they want more safety statistics regarding the technology before riding, and 86% say they want to be able to take control of the vehicle if needed.

Bottom line: The ability to address safety concerns and get more consumers to buy into the idea of AVs will decide the pace of its scalability and when stakeholders can expect to start yielding some measurable returns on their investments.

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