You work from home and sometimes do not get to breathe fresh air. Self-driving cars will change that. You can work in your car and get to your destination. HOW EXCITING!
So, if you’ve ever wondering:
“How can I invest in the self-driving car industry?”, then you have come to the right place.
Let’s take it as a given that you support the progress of autonomous vehicles. However, without educating the market and consumers about the benefits of self-driving cars such as saving lives, eliminating road rage, and reducing traffic congestion, autonomous cars will be stuck on the lot.
According to Forbes, “a study of 2,000 drivers found that more than 75% of Americans would consider buying a self-driving car” (Forbes).
Let’s make one thing clear:
Investing support in the industry is more important than how to invest money in self-driving cars.
This is the biggest factor. Lawmakers and your local politicians are not going to support the technology if their community doesn’t either. Due to public safety, when the first self-driving car hit the road in 2009, no state would allow them to be driven outside of private facilities. Since then, “twenty-two states have either passed legislation related to autonomous vehicles or adopted regulations through a governor’s executive order” (USAToday).
The goal for some car brands, like Tesla, is to have autonomous cars available for purchase by mid-2018, but if you live in one of those other states your dreams of owning a self-driving car are dim.
What’s the holdup?
Believe it or not, there were people who swore they would never ride in a car and they didn’t. You know what happened to those people? They died. As with any new product that hits that market, the first concern is public safety. Self-driving vehicles will be judged for safety much like the car first was when it was introduced in 1885. However, there’s no need for a whole generation to phase out in order to have fully autonomous cars.
With the impact to multiple industries and jobs, autonomous cars and freight trucks will be a big political fight that could go into the mid-2020s. For example, “Congress in 2008 instructed the Department of Transportation to implement a new standard by 2011 requiring automakers to adopt rearview cameras. After numerous delays, the rule was issued in 2014, but it won’t take effect until 2018” (USAToday). A full decade before car makers must ensure every car has a rearview camera.
Before you financially invest in self-driving cars, invest support so that your financial investment pays off big. Start now, because 10 years is a long stretch to see a return on investment.
Here’s how to invest in self-driving cars:
- Do your homework
- Read up on the 263 companies building self-driving technologies. Most, but not all, of these companies are startups and “investing in startups is inherently risky. It is important for you to do your own independent due diligence to mitigate those risks”. (SeedInvest)
- Do more than view their website; get to know their founders and company through online reports and industry circulars.
- Decide how much to invest
- According to SeedInvest, “You should only invest amounts that you are willing to lose in its entirety. Startups are highly risky and illiquid investments, and there is a real risk that investors in startups will lose the entire principal amount”.
- Keep in mind, it could take a minimum of 3 years before you see a return, if any return at all.
- Investing in startups is risky, consider diversification to minimize your potential loss.
- Do not place all your money in one company.
- Become an Accredited or non-accredited investor on SeedInvest or talk with a financial broker to gain access to these companies. If you have a few companies you particularly like reach out to them directly. They’ll be glad you did.
- Make the investment
- Here’s how you can grow your investment in self-driving cars
- Express your support to the Department of Transportation
- Start the discussion in your community with friends and family. Transfer your excitement about the autonomous industry on to them.
- Discuss online via blogs, social media, and news articles.
- Become an advocate for those companies you like.
Best of all, the industry is still young and it’s a great time to invest. Whether it is time, money, or support there are options for you to invest in self-driving cars.