Introducing The Road to Autonomy Index
The Road to Autonomy Index is the first of its kind to measure the performance of the autonomous vehicle industry, which includes these segments: autonomous vehicles, autonomous trucks, off-road specialty vehicles that are utilizing autonomy and companies that have identified autonomy as a key component of their business strategies.
Companies featured in the Index are developing technology, components, platforms and services for autonomous vehicles, trucks, off-road applications and the global ecosystem that enables autonomy, including but not limited to chips, hardware, industrial logistics, infrastructure, manufacturing, payments, services and software.
The Index consists of 38 companies in five countries with an average market cap of US$303 billion. Over time, the Index can be expanded to 45 component companies, but it can have no fewer than 30 components at any time.
For a company to be considered for the Index it must be publicly traded on a recognized exchange for 365 days and must have a minimum market capitalization of US$2 billion for 90 days prior to the one-year anniversary of its debut as a public company, in addition to having a 90-day daily average volume of US$500,000 or greater.
The Top 10 constituents by Index weight are as follows (as of April 25, 2023):
- Alphabet Inc.
- General Motors Company (GM)
- Microsoft Corp
- Caterpillar Inc
- Deere & Co
- Volvo AB B
- Tesla, Inc
- Daimler Truck AG
- Aptiv plc
The common thread among these companies is they are generating revenue from autonomy. Whether developing robo-taxi services, personally owned autonomous vehicles, autonomous tractors for farms, autonomous trucks for mine operations, cloud computing infrastructure to support autonomy, software subscriptions for autonomous features or Class-8 trucks and components, all of these companies will benefit financially from autonomy.
The Index reflects the dynamic nature of autonomy, which will not be a one-size-fits-all solution. Autonomy will be deployed strategically by many different companies in ways that benefit their businesses — from companies developing technology and machinery to supply chain solutions to entertainment platforms to insurance products and more.
The Index is the first in the world to track the true health of the autonomous vehicle industry. By design, it does not include electric vehicle components, whose performance may skew the clarity of measuring autonomy.
Most important, the Index provides the first authoritative view into how autonomy will change every facet of society — from how we move to how our food is farmed to how goods are delivered to how we travel. Until now there was no Index to track this industry.
Autonomy is now a real business. As the autonomous vehicle industry matures, follow The Road to Autonomy Index and The Road to Autonomy Total Return Index to gauge the industry’s health and understand its opportunities and challenges,
The Future is Bright. The Future is Autonomous. The Future is The Road to Autonomy Index.
April 25, 2023
