The Great Drive: Chinese Autonomous Tech Firms Eye European Expansion
Blocked from the U.S., Chinese self-driving technology firms are targeting Europe for expansion, setting up headquarters and road-testing their systems. The open regulatory environment in Europe makes it an attractive market despite competitive concerns from local firms. Chinese companies view Europe as a key growth area amid global market pressures.
As Chinese self-driving technology companies face hurdles in the U.S. market, they are increasingly setting their sights on Europe as a key area for expansion. Establishing new headquarters and engaging in data-sharing agreements, these firms aim to road-test their systems in an environment they describe as more open to innovation despite local competitive concerns.
In China, autonomous driving technology has integrated into more than half of the cars sold, partly due to Beijing's push for global dominance in autonomous vehicle innovation. European firms, meanwhile, express anxiety about competing with these aggressive expansions, calling for heightened regulatory measures to ensure fair competition.
Leading Chinese firms like QCraft and Deeproute.ai seek to capitalize on this market by setting up operations and partnerships in Europe, with expectations of selling their technologies within two years. The European Commission, aware of the global race in autonomous vehicles, seeks to create cohesive continental regulations to accommodate more advanced systems.
(With inputs from agencies.)
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