France’s PSA Group, the second-largest auto manufacturer in Europe, has partnered with Bollore Group to launch a car-sharing service, Fortune reports.
The service will first launch in Los Angeles but the companies are currently working with other cities to expand the service.
This is part of a turnaround plan for PSA Group, which was nearly forced to declare bankruptcy two years ago. The automaker, which manufactures vehicles with the Peugot nameplate, is tackling a number of projects, ranging from vehicle leasing to parts distribution, as a way to develop a diverse revenue base in an era where traditional automakers have seen their bottom lines shrink. The company hopes that this service will help it to rebound as it sees ride-sharing as a growing business.
Companies are moving into ride-sharing as a way to eventually help to deploy self-driving vehicles when the technology becomes available. Ford CEO Mark Fields, in an interview with Business Insider CEO Henry Blodget, elaborated on the future of self-driving cars where he envisioned a future in which self-driving cars are used for ride-hailing and ride-sharing. This interview came on the heels of Ford’s acquisition of Chariot, a San Francisco-based ride-sharing startup that they hope will provide a base for that expansion.
John Greenough, senior research analyst for BI Intelligence, Business Insider’s premium research service, has compiled a detailed report on self-driving cars that examines the major strides automakers and tech companies have made to overcome the barriers currently preventing fully autonomous cars from hitting the market. Further, the report examines global survey results showing where fully autonomous cars are highly desired.
Here are some key takeaways from the report:
- Three barriers have been preventing fully autonomous cars from hitting the road: 1) high technological component prices; 2) varying degrees of consumer trust in the technology; and 3) relatively nonexistent regulations. However, in the past six months, there have been many advances in overcoming these barriers.
- Technology has been improving as new market entrants find innovative ways to expand on existing fully autonomous car technology. As a result, the price of the components required for fully autonomous cars has been dropping.
- Consumer trust in fully autonomous vehicle technology has increased in the past two years.
- California became the first US state to propose regulations. California’s regulations stipulate that a fully autonomous car must have a driver behind the wheel at all times, discouraging Google’s and Uber’s idea of a driverless taxi system.
In full, the report:
- Examines consumer trust in fully autonomous vehicles
- Identifies technological advancements that have been made in the industry
- Analyzes the cost of fully autonomous technology and identifies how cost is being reduced
- Explains the current regulations surrounding fully autonomous cars
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