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Tesla Competition in Self-Driving Vehicles Mounts

Money

Tesla competition in the emerging self-driving vehicle market is mounting as existing auto manufacturers such as General Motors (NYSE:GM) and aspiring upstart rivals that include Google-funded Waymo are advancing their plans to launch commercial ride-hailing services.

Tesla Inc. (NASDAQ:TSLA) is grabbing headlines partly due to its high-profile founder and CEO Elon Musk and his news-making tweets but investors should not expect any of the companies to become a near-term self-driving vehicle Goliath in light of the practical challenges that Waymo and others have incurred. Waymo had intended to launch commercial ride-hailing services later this year but those efforts are not progressing smoothly, since its autonomous vehicle testing in Phoenix is showing excess caution in the view of some human drivers there.

Waymo has driven more than 9 million miles on public roads in 25 U.S. cities and 9 billion miles in simulation since it began in 2009, so it shows the long-term nature required of any company that seeks to enter that fledgling but highly competitive field. Plus, Waymo’s self-driving Chrysler Pacific hybrid minivan prototypes recently have incurred problems crossing a T-intersection near its Phoenix-area headquarters, indicating that commercial self-driving ride-hailing services still face huge hurdles.

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Source: Human Events

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