The automotive industry is undergoing a major transformation with the rise of electric and autonomous vehicle technology. Major automakers and tech companies are investing billions into electric and self-driving cars, betting this will be the future of transportation.
In this post, we rank the top 10 companies working on autonomous electric vehicle (EV) technology based on their annual revenues. We dive into the details on what these players are doing to push the envelope on self-driving EVs.
#10: Luminar Technologies – $31.94 Million
Founded in 2012 and based in Orlando, Luminar Technologies specializes in developing lidar sensors and computer vision software for autonomous vehicles. While they don‘t manufacture full vehicles, their technology goes into cars from major automakers like Volvo to power autonomous functionality.
Key products Luminar is working on for self-driving EVs include:
- Iris lidar sensor: Provides real-time 3D vision of the vehicle‘s surroundings out to 500m
- Sentinel software: Includes over 50 safety and autonomy features for evasive maneuvers, object detection, and more
Luminar has development deals with SAIC, Airbus UpNext, Pony.ai, Volvo Cars, and Mercedes-Benz. As adoption of their tech grows, their annual revenue is estimated to grow to $500 million by 2025.
#9: Argo AI – $874 Million
Headed by former Google and Uber self-driving program leads, Pittsburgh-based Argo AI is building an advanced autonomous vehicle technology platform targeting Level 4 autonomy. They are backed by major investments from Ford and Volkswagen.
Argo‘s self-driving system combines lidar, radar, and cameras with high-definition maps. It will be integrated into Ford vehicles starting in 2022 and VW vehicles in 2023.
Argo promises affordable, safe, and accessible Level 4 autonomous vehicles you can ride in as part of a newly-built transportation service. Their focus right now is on goods delivery and ride-share applications.
#8: Waymo – $1.4 Billion
Born out of Google‘s self-driving car project in 2009, Waymo is widely viewed as the sector leader in autonomous vehicles. The California-based company became fully independent in 2016.
Waymo already offers limited public access to their autonomous vehicles through ride services in Phoenix. In 2020 they opened this up to the general public there, not just pre-approved users.
Their Chrysler Pacifica minivans use Waymo‘s advanced hardware suite and AI software to enable fully driverless capabilities. They combine lidars, radars, and cameras for 360-degree object detection and analysis.
Waymo also focuses on long-haul trucking and goods delivery with their autonomous Class 8 trucks. This demonstrates their autonomous platform‘s versatility.
#7: Cruise Automation – $1.68 Billion
San Francisco startup Cruise Automation was acquired by General Motors in 2016 to serve as GM‘s lead on self-driving cars. They now function as an independent subsidiary of GM.
The all-electric Cruise Origin revealed in 2020 will be their first production AV targeted at rideshare and delivery markets. It features a space-age design with no steering wheel and sliding doors.
Cruise says the Origin will be powered by their "Virtual Driver" system which leverages AI and sensors for complete autonomous operation. GM will leverage Cruise‘s work across their various brands going forward.
#6: Nio – $5.671 Billion
As a leading Chinese electric vehicle manufacturer, Nio is also making big moves into smart and self-driving vehicles. Their advanced EVs can already automatically change lanes, enter/exit highways, recognize lights, accelerate, and park themselves with a tap from drivers.
Nio‘s "NIO Pilot" driver assistance system leverages Nvidia processing power for its various autonomous capabilities offered today. Going forward, Nio is continuing to heavily invest in R&D around self-driving as they grow.
#5: Baidu – $17.18 Billion
China‘s largest technology company Baidu announced in 2021 its new electric vehicle brand Jidu Auto. This brings Baidu into the EV production space after previously focusing just on autonomous driving software.
Baidu has been testing its Apollo self-driving platform with Chinese automakers since 2018. This system powers autonomous capabilities ranging from navigation to perception to simulation.
Now with Jidu Auto, Baidu looks to seamlessly integrate Apollo directly into smart EVs designed for city driving and parking. Their first model is slated for a 2023 launch.
#4: Tesla – $53.8 Billion
No list of autonomous and electric vehicle leaders would be complete without the iconic Tesla. They ushered in the mainstream EV movement and remain the top battery-electric passenger vehicle maker globally.
On the autonomous side, Tesla‘s driver assistance software called Autopilot enables auto-steering, lane changes, smart summon, self-parking, and more. Their cars collect image, sensor and driving data that feeds into improving Tesla‘s neural network.
Their ambition is to reach true autonomous driving capabilities first. Tesla claims all cars shipped today have the necessary hardware for "full self-driving" pending further software releases.
#3: Nissan – $54 Billion
As the company credited with building the first mass-market electric car (the LEAF), Nissan has continued innovating on next-gen mobility tech for drivers.
The Japanese automaker is testing its ProPilot 2.0 driver assistance system which enables hands-free highway driving. It can change lanes and pass other vehicles without input.
Nissan plans to launch ProPilot 2.0 in the U.S. starting in 2022. They eventually envision a capability called ProPilot 3.0 to enable city driving. This will combine sensors and cloud connectivity for situational analysis.
#2: BMW – $111.84 Billion
Premium iconic automaker BMW is advancing self-driving vehicles through its BMW iNEXT concept vehicle integrating level 3 autonomy.
Unveiled last year, the electric BMW iNEXT SUV will enter production in 2021 featuring Conditional Automation driving capabilities. This enables true eyes-off-the-road automated driving.
The iNEXT uses cameras, radars, lasers and ultrasonic sensors to build a comprehensive live environment map. Interior cameras and sensors also track the driver‘s condition and preparedness to instantly resume control when needed.
#1: Ford – $136.3 Billion
One of the auto industry‘s oldest and most storied brands is going all-in on smart mobility technologies like EVs and AVs to define the next generation of transportation.
Ford already offers a Co-Pilot360 driver assistance feature across its lineup today. Looking ahead, Ford previews its future self-driving ambitions in the 2021 F-150 pickup and Mustang Mach-E SUV as they feature Active Drive Assist capability.
This allows for hands-free driving on select highway stretches through a combination of cameras, radars and software. Ford envisions this eventually extending to city streets as well for true autonomous driving.
