Latest Developments in Self-Driving Automobiles: Continental, Aurora, Zoox, Aeva, and Ghost Make Strides
The automotive industry is on the cusp of a significant shift, with autonomous driving technology gaining traction among consumers. According to a recent survey by Ghost Autonomy, a majority of consumers (65%) express a desire for autonomous driving in their cars within the next ten years, if the technology is proven to be safe.
This growing interest is reflected in consumers' vehicle purchasing decisions. Advanced driver assistance features are a key criteria for 65% of consumers, and 59% would choose their next car based on the availability of autonomous driving technology. This trend is particularly pronounced among younger drivers, with 73% of drivers between the ages of 21-29 and 69% of drivers between the ages of 30-39 expressing a desire for fully autonomous driving in the next five years.
The survey also found that consumers are actively seeking fully autonomous driving, with 77% expressing a strong preference for it. This demand is driven in part by safety concerns, as safety features rank as the number one priority for new car buyers, and 61% of consumers are willing to expedite their next car purchase if advanced safety systems capable of reducing accidents by 90% or more were available.
Aeva, a company specializing in next-generation sensing and perception systems, has been selected as a Tier 1 LiDAR supplier by one of the top global automotive OEMs for its series production vehicle program. This production win is one of the largest automotive series production awards in its class and positions Aeva to become a trusted direct Tier 1 supplier to automotive OEMs globally. The multi-year program is expected to generate revenues starting in the first quarter of 2024 with production ramp by mid-decade.
Tesla owners exhibit the highest rate of exposure to self-driving features and are at the forefront of the market in their enthusiasm for autonomous technology. 80% of Tesla owners cite advanced driver assistance features as a critical factor in their vehicle purchasing decision, and 88% express a desire for full autonomy in their next car. If a monthly cost is involved, 67% of consumers are willing to pay at least $100 a month for autonomous driving capabilities. Moreover, if there were an additional cost associated with autonomous driving technology, 78% of consumers are ready to make an upfront payment of $5,000 or more for these services on top of their car purchase.
John Hayes, founder and CEO of Ghost Autonomy, stated that autonomous driving is clearly the next frontier for the automotive industry and that there is enormous opportunity in educating and exposing consumers to autonomous capabilities to connect ongoing advancements in autonomy to consumers' propensity to buy. The survey gathered insights from over 1,200 participants across diverse age groups, income levels, and geographical regions, providing a comprehensive view of consumer attitudes towards autonomous driving.
Aeva expects to reveal more details about this major win together with the OEM in early 2024. As the industry moves towards autonomous driving, it is clear that consumers are ready and willing to embrace this new technology. With safety, convenience, and innovation at the forefront, the future of the automotive industry looks promising.
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