Better Robotaxi Stock: Alphabet or Tesla?
It looks like Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Waymo's self-driving-car development is gaining ground at an impressive pace this year. Concerns were raised last year about how well its autonomous vehicles would fare under real-world conditions, but the company has eased doubters' fears with its progress toward commercialization.
Meanwhile, Tesla (NASDAQ: TSLA) CEO Elon Musk has promised that his company will change the game in self-driving cars. According to Musk, Teslas are already being built with all the hardware necessary for them to become fully autonomous, once the software catches up. He has said he foresees the day coming soon when Tesla owners will be able to turn their personal vehicles into robotaxis, and earn as much as $30,000 a year by letting the cars drive themselves to ferry other passengers around.
That, of course, has yet to happen. And while Waymo has been making some concrete progress, its self-driving taxi service has only had a limited rollout so far. But for investors looking to profit from the potential of this trend, the question may be: Is Alphabet a better self-driving car bet than Tesla? Or will Musk's ambition supercharge his company's stock in the long run?
Source Fool.com
