Wuhan granted licenses for self-driving cars, targeting USD 1 trln opportunities
 
China Knowledge Online
Sep 25, 2019
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Sep 24, 2019 (China Knowledge) - Wuhan, the capital city of Hubei Province in central China, has granted operating licenses for companies testing intelligent connected autonomous vehicles, which could mean autonomous driving will be made available in the central region of China.

Internet giant Baidu (BIDU) has obtained a license for five for its self-driving cars. The other two companies that received the license are Shenzhen Haylion Technologies and DeepBlue Technology. These enterprises can not only carry out autonomous driving tests but also conduct commercial operations and receive market-testing.

Among the three companies that obtained the first batch of licenses, Baidu has made multiple arrangements in unmanned driving. As early as 2014, Baidu has already confirmed to start research on driverless cars. At the Baidu World Congress in Nov 2018, Baidu and FAW (000800) jointly released L4 self-driving buses and will realize small-scale mass production by the end of 2019 and on a larger scale by 2020.

As one of the cities with sound 5G development, Wuhan is trying to apply the latest communication technology in various fields. Hubei proposes to speed up the construction of the Wuhan demonstration area for intelligent connected autonomous vehicles, and actively carry out applications of unmanned road sweepers, public buses, autonomous taxis, and intelligent parking systems.

According to the market research company Forward Intelligence, driverless cars can create a huge market of USD 200 bln to USD 1.9 trln by 2025. By 2035, the global sales volume of driverless cars will reach 11.8 mln units, with a compound annual growth rate of 48.35% between 2025 and 2035.

 
 
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