Zinger Key Points
- Goldman Sachs says it expects Rivian to monetize its Autonomy+ platform.
- Goldman Sachs maintains a Neutral rating on Tesla stock and raises its price target from $250 to $345.
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Goldman Sachs said in a research note released on Tuesday that it expects continued progress in the autonomous vehicles space, including robotaxis, in 2025.
Expert Ideas: Goldman Sachs analysts predict that vehicles with situationally "eyes-off," or Level 3, AV capabilities will reach approximately 10% of new vehicle sales in 2030. The analysts expect sales of fully autonomous vehicles, Levels 4 and 5, to be relatively low in the near to medium term, but to reach more than one million in 2028 and above two million in 2030.
The firm sees fully autonomous vehicles reaching a mid-teens percentage of global vehicle sales in 2040, including personal ownership of Level 4 vehicles.
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TSLA: Goldman Sachs highlighted Tesla in the areas of power and platforms, but sees the EV-leader facing headwinds in its core auto business in the near to medium term. The firm pointed to slower global EV demand and pricing pressures as the causes.
Tesla is targeting a 2025 launch of its robotaxi service in Texas and/or California using its Model 3/Y vehicles. The company is also planning to begin production of its Cybercab robotaxi in 2026. Goldman Sachs pointed to increased federal regulatory clarity, especially for consumer vehicles, as being helpful to Tesla as it attempts to scale its Level 4 AVs.
Goldman Sachs maintained a Neutral rating on Tesla stock and raised its price target from $250 to $345.
RIVN: Goldman Sachs noted that Rivian recently deployed its Autonomy+ platform, currently a Level 2 AV driver assist and autonomy feature. Autonomy+ rolled out as a free trial and the firm expects Rivian to monetize the platform in the future, adding another revenue stream for the company.
Goldman Sachs maintained a Neutral rating on Rivian stock and raised its price target from $12 to $13.
TSLA, RIVN Price Action: According to Benzinga Pro, Tesla shares are down 0.42% at $423.00 and Rivian shares are up 1.15% at $13.92 at the time of publication Thursday at midday.
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