Connect with us

Business

Shanghai taps battery maker CATL, SAIC Motor for autonomous driving tech industrial parks, but must attract ‘more bellwether firms, top talent’

News Agencies

Published

on

The municipal government will, however, need to attract more leading companies in the fields of carmaking, EV batteries, artificial intelligence, robotics and computing to these parks, according to an analyst.

“Intelligent vehicles will evolve into a multitrillion dollar industry in the next decade,” said Cao Hua, a ­partner at private-equity firm Unity Asset Management. “Shanghai is a powerhouse in carmaking, but it has to attract more bellwether firms and top talent to support the development of new-energy vehicles and autonomous driving technologies.”

EVs have been increasingly well received by drivers in China, and are crucial for Beijing’s goals of reaching peak carbon ­emissions by 2030 and carbon neutrality by 2060.

This week, Beijing-based Baidu said that its driverless, autonomous taxi services had jumped 65 per cent to 474,000 rides in the third quarter of this year. Each autonomous taxi in the first-tier cities of Beijing, Shanghai and Guangzhou completed 15 rides per day in this period, it said.

Advertisement
China’s first driverless ride-hailing service hits the streets of Chongqing

01:44

China’s first driverless ride-hailing service hits the streets of Chongqing

The surge in autonomous taxis is seen as further proof of rising interest in such technologies in China.

Advertisement

Regional governments across the country are investing heavily in such technologies amid rosy forecasts for the rising use of green vehicles in the world’s largest car market.

Currently, about 30 per cent of new vehicles taking to China’s roads are powered by batteries, and their use is expected to top 60 per cent in 2030, Swiss bank UBS forecast last year.

Moreover, autonomous driving is expected to save about 1.8 trillion yuan (US$252.1 billion) in labour costs by 2030, when thousands of lorries become driverless, Xu Bin, a UBS analyst, said in September this year.

Advertisement

The news is published by EMEA Tribune & SCMP210520-twitter-verified-cs-70cdee.jpg (1500×750)

Continue Reading
Advertisement

Advertisement

Breaking News

Editor Pick’s

Latest Entertainment

Entertainment46 mins ago

‘AGT: All-Stars’ couple Power Duo confesses crush on live TV: ‘He didn’t know that I loved him first’

Gervin of ‘Pilipinas Got Talent’-winning aerial act Power Duo confesses his crush to his professional partner, Anjanette, on live TV....

Entertainment3 hours ago

Pamela Anderson says she has ‘no ill will’ toward Tim Allen after he denies alleged ‘Home Improvement’ flashing

Pamela Anderson’s book and documentary are available Jan. 31. (Photo: Dia Dipasupil/Getty Images) Tim Allen shot down Pamela Anderson‘s story,...

Entertainment3 hours ago

Razzie Awards face sharp criticism for nominating ‘Firestarter’ child star: ‘Repulsive and wrong’

Ryan Kiera Armstrong in ‘Firestarter’ (Photo: Ken Woroner/Universal Pictures/courtesy Everett Collection) Since their launch in 1981, the Golden Raspberry Awards...

Entertainment5 hours ago

Holly Madison left Hugh Hefner because ‘verbal abuse’ got ‘so bad’: ‘I couldn’t stand it anymore’

Holly Madison, here with Hugh Hefner in 2009, opens up about hosting true crime show The Playboy Murders. (Photo: Getty...

Entertainment5 hours ago

Everything you need to know about Kylie Jenner’s lion head dress

Kylie Jenner, Naomi Campbell and Doja Cat were a few of the celebrities drawing attention to Schiaparelli’s spring 2023 Haute...

Entertainment7 hours ago

Shailene Woodley reflects on Aaron Rodgers split: ‘Darkest, hardest time in my life’

Aaron Rodgers and Shailene Woodley were engaged for a year before splitting for good. (Photo: Aaron Rodgers via Instagram) Shailene...

Entertainment8 hours ago

How ‘The Incredible Hulk’ influenced Rian Johnson and Natasha Lyonne’s new detective series ‘Poker Face’

Natasha Lyonne as Charlie Cale in Poker Face. (Photo: Evans Vestal Ward/Peacock) Stop us if you’ve heard this one before:...

Entertainment8 hours ago

Kylie Jenner changed her baby boy’s name to Aire: A guide to other Kardashian-Jenner baby names

Sisters Kim Kardashian and Kylie Jenner are both mothers and aunts. (Photo: David Crotty/Patrick McMullan via Getty Images) The Kardashian...

Advertisement

Latest Sports

Sports44 mins ago

Stewart leads charge for WNBA travel change

Breanna Stewart says she'd like to use her NIL money to fund charter travel and believes this would help improve...

Sports1 hour ago

George Kittle expects ‘cold and violent’ 49ers-Eagles NFC Championship Game

The 49ers are anticipating cold weather and a cold reception from Eagles fans on their trip to Philadelphia for the...

Sports2 hours ago

Ed Reed missed the mark and the mission in his split with Bethune-Cookman University

"It's frustrating. He didn't understand exactly what he was getting himself into," Eddie George said of Reed.

Sports2 hours ago

The playoffs exposed the Bills flaws we ignored

Buffalo's second-straight playoff exit came as a surprise considering the preseason Super Bowl hype. The truth is, there were holes...

Sports2 hours ago

Which Blue Jays will benefit from Rogers Centre’s reported new dimensions?

The Rogers Centre will be even more hitter-friendly in 2023, per a recent report. Here's who will be most impacted...

Sports3 hours ago

Former Cubs broadcaster Chip Caray joins Cardinals booth: reports

Former Chicago Cubs broadcaster Chip Caray will reportedly become the new TV play-by-play voice of the St. Louis Cardinals.

Sports3 hours ago

2023 NHL trade deadline: Ranking top 15 players teams should target

The Bruins are clearly in "go for it" mode thanks to their record-setting first half. We highlight 15 players who...

Sports4 hours ago

49ers vs. Eagles NFC Championship Game preview, matchups, series history

The Eagles and 49ers, the top two seeds in the NFC playoff bracket, will meet Sunday in Philadelphia for the...

Technology Hot News

Technology5 days ago

Led by "Amazon" and "Microsoft" .. the technology giants are planning to lay off 64,000 employees

After 10 years of driving the stock market bull run, big tech companies are racing to downsize staff to adapt...

Technology5 days ago

Apple introduces MacBooks with new M2 processors

Yesterday, Tuesday, Apple unveiled MacBooks powered by the new, faster “M2 Pro” and “M2 Max” processor chips, in a surprise...

Technology6 days ago

All you need to know about the upcoming Galaxy S23 phones from Samsung

Samsung has officially announced that the (Galaxy Unpacked 2023) event will be held this year on Wednesday, February 1, which...

Technology6 days ago

FTX Exchange Announces Hacking and Stolen $415 Million in Cryptocurrency

Bankrupt American cryptocurrency firm FTX announced today, Wednesday, that $415 million in cryptocurrency has been hacked and stolen from the...

Technology6 days ago

Because of a "fraudulent tweet"… Elon Musk's trial begins

Elon Musk's trial began Tuesday in San Francisco with the selection of jury members who will have to decide whether...

Technology6 days ago

An electric spoon replaces salt and spices, but with conditions

Experts have developed an electric spoon that is able to replace spices and flavors and affect the taste buds in...

Technology1 week ago

The biggest dangers of using tracking devices.. so you can escape?

If you spot an unknown Bluetooth tagging device, there are ways to disable the device so it can't track your...

Technology1 week ago

New Twitter.. For You tab to web version

The Twitter platform announced that it will bring the new tab (For You), which launched last Tuesday for iPhones and...

Advertisement