A range of companies could benefit from the shift to electric and autonomous vehicles, say Capital Group's experts
While equity portfolio manager Chris Buchbinder at Capital Group doesn't expect us all to own self-driving cars by 2030, he does think we could be travelling by robotaxi within the next 10 years.
"I think in 2030 we will have broadly deployed fleets of autonomous electric vehicles operating in cities throughout the world," he says.
"Ownership of a personal vehicle will go from being a necessity to a luxury. Many people will still have vehicles, but they will no longer be necessary as a primary form of transportation in major cities."
But as vehicles become autonomous, they will require even more advanced components - the recent global shortage in automotive chips underscores the dependence the automotive industry now has on chipmakers. "As vehicles become more about technological components and less about traditional manufacturing, winners will emerge from a variety of industries," Buchbinder says.
Click here to read more about the road ahead for autonomous vehicles on the Future Forward hub. Brought to you by Investment Week, Professional Adviser and Capital Group