Could autonomous movers be the future of urban transport?

Following a difficult third quarter in 2022, the progress of autonomous vehicles (AVs) is likely to be far slower than initially anticipated. So far, approximately US$200bn has been spent on the technology globally, and investors are scrutinising what they consider low value returns. On 6 December, The Wall Street Journal reported that TCI Fund Management had written to Alphabet Inc (Google’s parent company), of which TCI is a notable shareholder, expressing negative sentiments regarding its “excessive investments” in self-driving car project Waymo.