Tesla (NASDAQ:TSLA) has helped usher in automatous driving (AD) technology, the next critical stage of transportation. But while the EV leader has rolled out stages of its full self-driving (FSD) tech, other automakers have been making their own strides. A subsidiary of Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Waymo recently announced plans to bring robotaxis to Los Angeles. On the other side of the globe, Chinese tech giant Baidu (NASDAQ:BIDU) is introducing its own driverless fleet to Wuhan and Chongqing.
CEO Elon Musk has said that Tesla will mass produce robotaxis by 2024. As of right now, though, multiple companies are beating it to the punch. As InvestorPlace contributor Will Ashworth reports, Waymo is significantly ahead of Tesla.
What has given names like Waymo and Baidu an edge? Multiple experts agree that it comes down to light detection and ranging (lidar) technology. One of the companies pioneering this tech is Luminar (NASDAQ:LAZR).
This post appeared first on InvestorPlace.