China could have the lead in the self-driving car market because of its ability to get regulatory decisions relatively quickly, according to an expense advisory firm.
Driver-less technology is definitely one of several sources of disruption that classic automakers will be facing today. While many U.S. start-ups and large companies have already been extensively focusing on this new technology, there’s another important factor to consider in the nascent market, Michael Dunne, president at Dunne Automotive, advised CNBC.
“There’s more to it than simply technology. Regulation things a lot,” Dunne stated at the sidelines of Fortune Global Discussion board in Guangzhou, China.
Given how new driver-less technology is, regulators will need to do a lot of work to set laws which will govern autonomous driving later on.
That, according to Dunne, can be where China and Chinese businesses have an edge because of how the decision-making process gets results in Beijing. He stated that the “Chinese authorities can, and can, facilitate autonomous driving earlier than we will in america, for instance. China could take the lead quickly due to this.”
“It isn’t without precedent here in China that they decide and tomorrow morning hours at 6 a.m., the expressway from Guangzhou to Shenzhen is now autonomous-only. Any objections? Okay great, here we go,” he explained for example of how quickly decision-making could work in the united states, which can be governed by a single political party.
As well, Chinese companies are as well catching up with their Silicon Valley counterparts with regards to developing more advanced driver-less technology. That’s being done through important Chinese investments into California to conduct research and production around autonomous technology, Dunne stated.
For example, earlier this year, Uber rival Didi Chuxing create a research and development middle in Mountain Watch, California. A team of researchers, engineers and researchers will look into the utilization of artificial intelligence in protection and intelligent driving technologies, the company said.
“I’m talking about billions of dollars, thousands of staff – getting first-class skill from Apple, Google, and Tesla to state ‘Hey we’ll carry out our R&D in California, style in California, we’ll commercialize back in China.’ That’s the formula to search for,” he added.