Morgan Stanley's widely followed auto analyst Adam Jonas is closely watching what Amazon's doing in the electric vehicles space, but he hasn't decided if the online giant will be a friend or foe of those established carmakers like General Motors.
Amazon recently invested in two automotive tech firms. It led a $700 million investment in electric vehicle makers, Rivian. The tech giant also invested in a $530 million round of funding for Aurora, a startup developing autonomous systems that could rival those from GM Cruise. The company is already hauling some cargo in self-driving trucks from a startup called Embargo.
Electric vehicles are still the equivalent of a convertible. They have their points as a niche vehicle, yet fail to have the utility for overall use. Going all in on not ready is bound to bring disappointment.