Seventeen price gainers, led by Chinese electric vehicle maker BYD (BYDDY), which gained 8.9 percent, led the Driverless Transportation Weekly Stock Index (D20) to a rebound this week.
As the leading Chinese maker of commercial electric vehicles including trucks and buses, BYD seemed to benefit from Tesla’s new Semi reveal.
BYD has been on a rollercoaster ride the last few weeks. It has been the D20’s leading price percentage gainer four times in the last 11 weeks, but has also been the leading price percentage loser three times in the those same 11 weeks.
The D20 added 2.6 percent this week, closing above the 260 mark at 265.92. It easily topped the Dow and S&P 500, which both gained 0.9 percent.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Uber, trying to put its boardroom troubles behind them and focus on moving away from human drivers, plans to buy 24,000 self driving SUVs from Volvo Cars. Volvo Cars, not to be confused with the D20’s truck and heavy equipment maker Volvo AB (STO: VOLV-B), is owned by the Chinese Vehicle manufacturer Geely. Volvo Cars announced the non-binding, non-exclusive agreement with Uber to provide up to 24,000 driverless XC90s between 2019 and 2021.