Don't Underestimate General Motors in Autonomous Driving
Tesla (NASDAQ: TSLA) gets a vast majority of the attention in the autonomous driving space, but there are a lot of other companies vying for market share long term. Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Waymo is one of the market leaders, and Niro is already delivering pizzas autonomously in Silicon Valley. But the company I think we're underestimating is General Motors (NYSE: GM) and its subsidiary, Cruise.
Cruise is already offering fully autonomous ridesharing in the San Francisco area. And GM is supporting Cruise, which it has a majority ownership position in, by manufacturing the Cruise Origin and extending $5 billion in credit for Cruise to build out its fleet. Cruise's value alone may make GM stock undervalued.
Image source: Cruise.
Source Fool.com
