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Adjusted for inflation, the cost of owning and operating a new vehicle hasn’t budged since the Model T rolled off the first assembly line in 1934: $0.70 per mile.

Importantly, autonomous transport should save consumers both time and costs. The average car owner in the US spends more than 420 hours per year driving—more than 10 work weeks.

ARK believes that the companies owning the autonomous technology stack and successful electric vehicle platforms will capitalize disproportionately on the economic benefits.

The convergence of artificial intelligence and battery technologies within the mobility space could disrupt transportation completely, radically reducing costs and benefiting consumers.

Autonomous electric ride-hail vehicles should benefit from much higher utilization rates than human-driven cars, not to mention lower labor and insurance costs. ARK estimates that, at scale, an autonomous electric taxi platform could price rides profitably at $0.25 per mile. As a result, autonomous rides could cost less than personal car transporta... See more