Bear
The core failure mode. What breaks, commoditizes or consumes too much capital?
Independent autonomous vehicle research
Understand who wins when cars drive themselves. Understand who wins when cars drive themselves.
Terminal Miles maps the companies, technologies, and economic layers shaping autonomous mobility—from the vehicle stack to fleet operations and consumer demand.
Download structured research packs, explore the deployment landscape, and pressure-test the thesis with your AI of choice.
55
Companies tracked
—
Public securities
5
Layers mapped
Updated monthly
The autonomous mobility stack
Follow the value chain from vehicle to demand.
- Vehicle
- Autonomy
- Fleet
- Infrastructure
- Demand
August coverage
The AV universe
Bear, Base + Bull are operating outcomes. A “priced in” label appears only when a dated model or expectations backsolve supports it.
No match
Nothing in the universe fits those filters.
Methodology
Underwriting the range.
Each case is a compact operating thesis that should be defensible w/ filings, deployment data, unit econ or other strong evidence if pressed.
Base
The most plausible path from today’s evidence, incl. real execution friction.
Bull
The upside case if tech, distribution + retained econ all work.
“Priced in” applies only to public securities and reflects the parent stock where relevant. Labels require an underwriting- or decision-grade model, a dated price, an explicit expectations method + a reproducible mapping to Bear, Base or Bull. Companies without that work simply carry no pricing label. A label is not a recommendation. Commercial packs use public issuer, regulatory and exchange information plus clearly labeled Terminal Miles assumptions. They contain no personal, portfolio or private-message research.
Research in public
Think a case is wrong?
Good. DMs are open. Bring a filing, a datapoint or a better model.