5 Best Self-Driving Stocks To Invest In

4. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 76

General Motors Company (NYSE:GM) is another iconic American automaker that sells a large variety of vehicles such as trucks and cars, alongside their spare parts. The company plans for its first self-driving car to hit the market in 2025, and the firm has its fleet of self-driving cars under testing. Its first self-driving car, the Cruise Origin will be on the streets in 2023.

General Motors Company (NYSE:GM)’s Cruise is a robotaxi that entered commercial operations in June 2022, and it can serve as a key catalyst for the company. The global robotaxi market is estimated to reach 1.45 million units by 2030 with an eye popping CAGR of 136% and General Motors Company (NYSE:GM)’s experience provides it with the right tools to leverage this segment. The company’s hands free driving technology, Super Cruise, will be extended to more road networks, it announced in August 2022.

76 of the 912 hedge funds profiled by Insider Monkey for their holdings in this year’s March quarter had invested in General Motors Company (NYSE:GM).

Of these, Warren Buffett’s Berkshire Hathaway is the company’s largest investor through a $2 billion stake that comes courtesy of 62 million shares.

Diamond Hill Capital mentioned the company in its Q1 2022 investor letter. Here is what the fund said:

General Motors—and the auto industry in general—continues to face headwinds related to supply chain disruptions and raw material cost inflation. In addition, uncertainty surrounding global energy markets due to inflation and the conflict in Ukraine has created a greater economic burden on consumers, which tends to slow automotive sales.”