Fasten your seatbelts: China revs up driverless tech
CMS is proud to announce the launch of its report “Fasten your seatbelts: China revs up driverless tech.” With China estimated to have around 8.6 million autonomous vehicles on the road by 2035, the race to develop driverless cars is heating up. The report offers a valuable insight into the development of self-driving cars in China.
In 2017, the Chinese government signalled their ambitions to boost the development of self-driving cars when the Ministry of Industry and Information Technology and the Standardisation Administration of China jointly published draft guidelines. The draft guidelines set out the various automation levels of self-driving cars and the accompanying standards. The report introduces the key players in China, the various challenges they face in the commercialisation of self-driving cars, and the development of infrastructure necessary for self-driving cars. The report also considers both the current and future legal landscape, and provides an outlook for foreign investors wishing to enter the Chinese market.
Key points from the report include:
- Industry pundits believe that the Chinese market for car sales, buses, taxis and related transportation services is potentially worth more than $1.5 trillion a year in revenue.
- There are only a few key players in China with the ability to develop autonomous driving technology.
- Due to regulatory constraints, it is anticipated that it will be a slow process before China reaches wide-spread commercialisation.
- The regulations published are high-level; however, there is likely to be an increased effort by regulators to provide guidance that is more specific.
- Foreign investors may enter the market by either partnering with a local automaker or investing in a Chinese start-up. It will be a challenge for foreign automakers to venture into China directly.
Please click here to download the report.