Unmanned cars will bring in up to $400bn
Companies in China are using assisted-driving technology as a way to compete in the electric car market, CNBC reports.
At the Shanghai Motor Show, which kicked off last week, electric car startups and Chinese technology companies made several announcements about their driver assistance technologies. It remains to be seen how powerful any of the announced features are and whether Chinese consumers will want to buy them. Current regulation also limits how much companies can allow the technology to control driving.
However, McKinsey estimates that automated and fully autonomous driving systems in passenger cars could generate $300bn to $400bn in global revenue by 2035. That said, China is the largest car market in the world.