Tech giants and vehicle industry bicker about car ownership in the future
Seoul — As Google’s Waymo, General Motors (GM) and others race to bring driverless vehicles to showrooms, the argument over who will buy cars in the technology era is getting louder. Hyundai, a latecomer to electrification and autonomous driving, is betting against individuals owning robot cars and preparing for a future in which the biggest buyers will be ride-sharing giants such as Uber, Lyft and GrabTaxi. The South Korean vehicle maker said in January that it invested in Singapore-based Grab, Southeast Asia’s biggest cab-hailing service. "The trend is now changing," Woongjun Jang, director of Hyundai’s advanced driver assistance system development group, told Stephen Engle in a Bloomberg TV interview on February 8. "In the past, people liked to own their cars. In the near future, I think the owner of the self-driving market will be mobility-service providers." Car ownership is here to stay Jang is the latest to weigh in on a topic fiercely contested by some industry veterans incl...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.