The competition to develop self-driving cars and dominate the lucrative autonomous vehicle market is intensifying. With the entry of Huawei Technologies Co. Ltd. into the field of intelligent car systems and components, the race is becoming more crowded. The potential revenue from intelligent driving is enormous, estimated at around a trillion RMB. China has the potential to become the largest market for autonomous vehicles, with sales predicted to reach US$230 billion by 2030.
The development of autonomous driving technology relies heavily on artificial intelligence (AI), specifically data and computing power. Only companies with ample talent and financial resources will be able to succeed in this fierce competition. However, differentiation in products is a challenge due to the need for a balance between cost, performance, and safety.
As more players join the race, carmakers have two options: developing autonomous vehicles independently or forming partnerships with suppliers. While some companies prefer to take control of the entire process, others recognize the need for alliances. Huawei, for example, has the advantage of developing both software and hardware, making it an attractive partner for carmakers.
Mentioning the competition from Tesla, industry insiders reveal that alliances are a response to the American automaker’s advancements in autonomous driving technology. Tesla has already introduced semi-autopilot and Full Self-Driving features in its vehicles. In preparation for Tesla’s potential entry into the Chinese market, Huawei and other local new-energy vehicle (NEV) manufacturers are stepping up their autonomous driving efforts.
The race to develop and commercialize autonomous vehicles is far from over. As companies scramble to secure their positions in this highly competitive market, the future of self-driving cars becomes increasingly inevitable.
The source of the article is from the blog qhubo.com.ni