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[vcv_menu key=""]Carvana's used-car vending machines make dad, son billionaires"Used-car salesmen aren't known for being popular!"But many of the shareholders at Carvana Co., the online upstart that sells cars out of vending machines, would probably disagree.Despite years of losses -- and forecasts of even more red ink ahead -- shares of the Tempe, Arizona-based company have...
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Aptiv firms up its AV tech ambitions in China
Global supplier Aptiv is securing a foothold for its self-driving technology in what may be the world’s most lucrative autonomous vehicle market.
The company said Wednesday it has opened an Autonomous Mobility Center in China and will soon deploy test vehicles on the roads in and around Shanghai.
That’s a precursor to eventual partnerships that could yield an autonomous ride-hailing service that mirrors the one Aptiv runs in Las Vegas along with Lyft.
“Our first step is to get cars on the ground and start driving, and over time, our ambition is to go to market in China using the playbook we’ve established in Vegas,” Karl Iagnemma, president of Aptiv’s autonomous mobility division, told Automotive News. “We’re developing the full-stack core technology, and we’ll integrate it with the vehicle platform from a partner. You put those ingredients together, and it’s a great market opportunity.”
China has the potential to become the largest global market for autonomous driving technology, according to a report from McKinsey & Co. in January. By 2040, the consulting firm estimates, AVs could account for 66 percent of all passenger miles traveled in China and generate $1.1 trillion in mobility services.
The Chinese government has sought to accelerate the arrival of autonomous, electric and connected vehicles, and its ability to mandate approaches from the highest levels has eased the regulatory path that’s more clouded for manufacturers and tech developers in the U.S. and Europe. But China’s government has traditionally been protective of its domestic companies.
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