Self-driving cars are already here, and they're making their mark on both the technology and transportation sectors.
Honda Motors (NYSE:HMC) and Tesla Motors (NASDAQ:TSLA) already have semi-autonomous vehicles on the market (though Honda's costs about $40,000 less), and Ford (NYSE:F) says it will have a fully autonomous car on the market in the next five years.
These companies -- along with Apple (NASDAQ:AAPL) and the U.S. government -- believe that self-driving cars will not only make driving safer, but that they'll also bring massive cost savings and create a new shared mobility market.
Click on the video below to find out the five key reasons driverless technology is taking off.
Chris Neiger has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Apple, Baidu, Ford, and Tesla Motors. The Motley Fool has the following options: long January 2018 $90 calls on Apple and short January 2018 $95 calls on Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.