- Published on August 31, 2021
- In AI Features
Latest Developments Show That Chinese Firms Are Getting Interested in Autonomous Vehicle Technology
With recent investments from Xiaomi and Alibaba, China seems to prepare for market leadership in the autonomous vehicle industry.
- By Debolina Biswas
The last couple of years have triggered many conversations around autonomous vehicles and self-driving cars. According to Market Watch, the global autonomous vehicle market's valuation stood at $54.21 billion in 2019. It predicts that the market valuation will increase to $2,055.93 billion by 2030, growing at a CAGR of 39.1 per cent between 2020 and 2030.
However, the autonomous vehicle industry has also been facing a lot of criticism in recent years, primarily owing to potential safety issues. Not long ago, after Tesla's Autopilot was identified causing at least 11 crashes since 2018, the US Government's National Highway Traffic Safety Administration investigated 7,65,000 vehicles -- almost all that Tesla sold in the US since 2014.
Despite these criticisms, the autonomou
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Debolina Biswas
After diving deep into the Indian startup ecosystem, Debolina is now a Technology Journalist. When not writing, she is found reading or playing with paint brushes and palette knives. She can be reached at debolina.biswas@analyticsindiamag.com
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