3 Stocks That Could Benefit as the Robotaxi Race Heats Up

Key Points

• The autonomous vehicle industry is continuing to grow, and companies developing sensing tools play an ongoing and crucial role.
• HSAI, MBLY, and AEVA are all increasingly major players to watch.
• Big partnerships for HSAI and AEVA could catalyze growth for these firms, while MBLY plans to launch its own robotaxi service.

Investor attention may have turned elsewhere in recent weeks, but the autonomous vehicle race is still quietly churning behind the scenes. In just the last few days, for example, Finland took a significant step toward approving key self-driving software, and privately held Terawatt Infrastructure secured $300 million in debt financing to expand driverless vehicle infrastructure, among other developments.

Vehicle sensing technology is critical to the development of this industry, and there is still intense competition among firms developing light detection and ranging (lidar) tools, perception systems, and related components. Many of these companies are on the smaller side and will rely on the success of their R&D to continue growing, making them at least moderately risky ventures. However, the potential for a breakout moment is also strong, and the names below may be top contenders.

Hesai's Shipments Soar, But Margin Remains a Challenge

With a market capitalization of just over $2 billion, Hesai Group NASDAQ: HSAI is not the largest autonomous vehicle sensing tech firm. However, it may have the most technological momentum, thanks in large part to its May 2026 announcement of a key partnership and supply agreement with Mercedes-Benz. Through this agreement, Hesai's Thai manufacturing facility will support Mercedes' vehicle programs across Europe and China. Hesai has also recently made breakthroughs in 3D perception that give it a crucial advantage over camera-based systems.

In its latest earnings report, the Chinese company noted 30% year-over-year (YOY) revenue growth as lidar shipments topped 471,000 units, helping Hesai achieve a fourth straight quarter of GAAP profitability. The firm sees lidar shipments of 3 million to 3.5 million units this year, putting it on pace to roughly double last year's already-record figure.

One area of potential concern for investors is margin. Hesai's gross margin declined in the latest quarter, and if the company continues to focus on lower-margin products, it may not help it recover. Scaling shipments does not seem to be the issue here—Hesai clearly has products in demand—but the company will have to continue to focus on efficiency to remain competitive. Still, with six Buy ratings and a single Hold, plus upside potential of over 100%, analysts are quite optimistic about this firm.

Mobileye Will Take Its Technology to the Streets With a Robotaxi Service

Advanced drive-assistance system developer Mobileye Global Inc. NASDAQ: MBLY has recently made headlines not for its autonomous vehicle technology directly, but rather because it plans to launch a U.S. robotaxi service in 2027. The company is positioned well to expand in this direction, as it already has a robust tech stack and mobility tools. However, it faces intense competition that already has a foothold in the burgeoning industry.

Competitors like Waymo and Tesla Inc. NASDAQ: TSLA are significantly ahead of Mobileye when it comes to driverless taxi services. However, Mobileye does have a solid cash pile and growing top and bottom lines (revenue climbed 27% YOY and adjusted operating income grew by 61% over the same timeframe for the last reported quarter).

Mobileye's valuation remains fairly attractive based on a price-to-sales (P/S) ratio of 3.43, but the venture into robotaxi services is a big gamble. Analysts are split on their assessments of the company, with 10 Buys but 15 combined Holds and Sells.

Aeva: A Riskier Venture With Promising Tech

The smallest company in this list by market cap, Aeva Technologies NASDAQ: AEVA, is a $1.3-billion firm developing and commercializing lidar tools. While the company is still seeking profitability, it has narrowed its net losses progressively over the past several years, and revenue has also trended higher. Q1 2026 revenue, for instance, was $2.9 million above Q1 2025 figures. The company has some breathing room thanks to $100 million in cash and short-term investments.

The company's strength may lie in its partnerships—it announced a major collaboration with NVIDIA Corp. NASDAQ: NVDA early in 2026, for instance. The firm's 4D lidar technology shows significant promise as well, though Aeva has so far had a difficult time translating that potential into revenue growth. If it is able to turn that around, it could see a breakout moment.

On the other hand, Aeva is likely the riskiest play on this list because of its dilution risk, its stretched valuation, and its continued struggles to achieve profitability. It's no surprise, then, that analysts are fairly divided on AEVA shares as well, with two calling it a Buy and another two assigning it either Hold or Sell ratings.