Automotive manufacturing giants are partnering with, investing in and acquiring key technology companies as ride-hailing and car-sharing companies are joining them, creating three-fold power-guilds in the autonomous vehicle industry. Separately, they cannot garner the lion’s share of an autonomous vehicle market projected to reach $77 billion by 2035. Together, they are poised to set the standard for self-driving vehicles on roads in Chicago and around the world.
(Article continues below Infographic)
Advocates state that if everyone owned a self-driving car, traffic congestion and stress would be reduced, negating the need for a car injury lawyer. But a fully autonomous car would retail in the six-figure range, limiting buyers.
To make manufacturing driverless cars viable, it must be approached in terms of a business venture. The best approach to reduce costs is to manufacture in volume and partner three key industries:
- Successful on-demand ride-hailing/car-sharing businesses,
- Successful automobile manufacturing companies, and
- Applying technology like sensors, GPS and other innovations to engineer autonomous driving systems.
General Motors Guild
Lyft | Maven
GM invested $500M in Lyft, equaling about nine percent of its worth. Lyft is a successful on-demand ride-hailing network located in the USA. GM’s strategy includes the utilization of their own car-sharing service, Maven, which provides some cars to Lyft. Each will share a portion of the fleet of thousands of Chevrolet Bolt electric vehicles. By 2020, the dual fleet is expected to be the largest in the country.
General Motors bought Cruise in 2016 for $1B. Now they are developing a self-driving vehicle technology called Super Cruise. It uses cameras and other sensors to automatically steer, brake and do automatic lane centering during highway driving. Super Cruise is the centerpiece to GM’s autonomous-driving business venture.
GM partnered with Mobileye in January 2016. In March 2017, Intel acquired Mobileye. Now GM can easily incorporate Mobileye sensors – or “eyes” – with the Intel Core i7 chip – or “brain.” The eyes see while the brain drives the vehicle. Mobileye also contracts with about 27 other automakers.
Proposed legislation makes autonomous cars subject to existing Illinois vehicle and road laws. The law will be applied equally to human drivers and autonomous cars. The computer system compiles reports, but only humans can interpret the data. With so many factors to consider, it’s important to consult a car injury lawyer in the case of an accident. A car injury lawyer understands existing accident statistics, laws and relevant influences.