Self-driving cars have already cost $100 billion! And brings little…

Automakers and suppliers have already spent $100 billion developing self-driving cars, reports Bloomberg. And what has it brought so far? Practically nothing.

Then we talk about money, not about technological development. Because in recent years, great progress has actually been made in the field of autonomous cars. But from A return on investment is absolutely out of the question.

Investors have little faith in self-driving cars

Investors therefore trust her less and less. Earlier this year, Intel estimated that its Mobileye self-driving arm would be worth about $50 billion. The chipmaker now holds it at around 16 billion.

The same goes for Cruise, which is owned by General Motors. It went public in early 2021 and raised $30 billion. As of March this year, the tech company was valued at about $19 billion.

Requires a tremendous investment of time and money

Self-driving cars require a huge investment of time and money. The result, a fully autonomous vehicle, will not be seen on public roads for many years to come. Some experts now believe it will never happen.

Adjusting expectations of autonomous cars

Anthony Levandowski, one-time autonomy pioneer at Google, told Businessweek a few weeks ago that we need to ditch the notion that self-driving cars will soon be everywhere on the roads. Rather focus on less complex ones use caseshe said.

Another specialist from startup Kodiak Robotics says autonomous prototypes can be built almost without the supervision of a driver. “Yes,” the man admits, “we always say that, we need a few more years.”