The Yandex division, which develops self-driving cars, is estimated at $ 7 billion, Forbes writes about this, citing data from a Morgan Stanley report. The report notes that Yandex's drones occupy one of the leading positions in the global market, and to maintain this status, it is necessary to increase the volume of investments in the development of this area.
Morgan Stanley analysts have published a report "A Dive into Yandex's Autonomous Vehicle Business" in which Yandex's business related to the development of self-driving cars is estimated at $ 7 billion. At the same time, the market capitalization of all Yandex is estimated at $ 24.1 billion. In the Morgan report Stanley notes that Yandex's autonomous car development unit is one of the ten largest companies in the world and is in third place in terms of the number of kilometers traveled on public roads.
It should be noted that analysts at Goldman Sachs also consider Yandex to be one of the world leaders in the development of technologies for autonomous vehicle control. Google-owned Waymo and Cruise, a subsidiary of General Motors, are recognized leaders in this area. The market capitalization of these companies is estimated by Morgan Stanley at $ 30 billion.
According to available data, Yandex's unmanned vehicles covered a total of 12.87 million km. The division employs about 400 people, and the fleet of unmanned vehicles is 170 vehicles. The first tests of prototypes of Yandex unmanned vehicles began in 2017 and since then the company's engineers have been able to develop the necessary software, as well as lidars, cameras and other equipment.
According to Morgan Stanley analysts, in order to maintain its position in the future, Yandex needs to increase investments in research activities and expand the fleet of unmanned vehicles. Experts believe that the Russian company lags behind the market leader represented by the American Waymo in terms of the total distance covered by three years. An increase in funding could help close this gap, analysts say.
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