Competition Intensifies in Securing Autonomous Driving Technology... "Policy and Institutional Support Essential for Preemption"

Not only Tesla and GM but also Qualcomm and Apple Accelerate Technology Acquisition
Major Countries Prepare Related Regulatory Frameworks
Domestic Companies and Institutions Establish Autonomous Driving Industry Association for Collaboration

[Asia Economy Reporter Ki-min Lee] As the global autonomous driving mobility market rapidly grows, major countries worldwide, along with automotive, IT, and platform companies, are accelerating technology development. Domestic companies and institutions have also formed consultative bodies and engaged in technology exchange and cooperation to keep pace in the autonomous driving competition.

There are calls for the government to swiftly improve various regulations and establish related systems for domestic companies to lead the autonomous driving market.

According to the industry on the 16th, domestic companies in the automotive, parts, IT, and platform sectors have set a goal to commercialize vehicles equipped with Level 4 autonomous driving technology by 2027 and are intensifying their research efforts.

According to the Society of Automotive Engineers (SAE) classification of autonomous driving levels 0 to 5, Level 4 is an advanced autonomous driving technology stage where the vehicle recognizes its surroundings and controls driving independently, requiring no human intervention except in specific situations such as severe weather. Currently, global automakers are preparing to commercialize Level 3 autonomous vehicles, where the vehicle system handles driving on specific conditions such as highways.

As autonomous driving technology, along with eco-friendly fuel cells, is expected to lead the future mobility market, major countries and global companies are engaged in a battle to secure technology and market dominance. According to the Korea Automotive Technology Institute, the autonomous vehicle market is expected to grow from $7.1 billion in 2020 to $1 trillion by 2035. The autonomous driving service market is also projected to reach a $3 trillion market by 2030.

Tesla, a leader in autonomous driving technology, provides the Autopilot driving assistance system in all its vehicles. It also released the new beta version 10.2 of FSD, which includes features such as lane change assistance, deceleration before stop signals, and automatic left and right turns. General Motors (GM) recently unveiled 'Ultra Cruise,' an autonomous driving technology designed to handle over 95% of driving situations on public roads. Ultra Cruise is scheduled to be available across the United States and Canada starting in 2023.

Not only automakers but also IT companies like Qualcomm and Apple are actively entering the market through mergers and acquisitions (M&A) of autonomous driving companies.

Governments of major countries such as the United States, Japan, and Germany are accelerating legal and regulatory reforms to promote the commercialization of Level 3 or higher autonomous vehicles. Germany is also enacting laws to allow the operation of fully autonomous vehicles (Level 4), aiming to start regular operation in 2022.

Domestic companies are also dedicating themselves to autonomous driving technology development. In 2019, Hyundai Motor Company and Aptiv established the joint venture Motional, which conducted unmanned autonomous vehicle test drives on public roads in February this year. Hyundai recently built an autonomous driving demonstration testbed at its Namyang Research Center.

[Image source=Yonhap News]

Moreover, 10 companies and institutions including Hyundai Motor Company, Hyundai Mobis, Mando Mobility Solutions, Socar, Kakao Mobility, KT, ControlWorks, ThorDrive, Korea Automotive Technology Institute, and Korea Automobile Safety Technology Institute have launched the Korea Autonomous Driving Industry Association and agreed to cooperate with each other.

There are also calls that government institutional and policy support is essential for Korea to lead the autonomous driving market. Jae-hyung Seo, PD of Autonomous Vehicles, said, "To open an era of widespread autonomous driving without accident risks, the government, industry, and various ministries must jointly establish policies on convergence technology, road facilities, legislation, and services to prepare for the future market." Si-bok Yoo, head of the Automotive Research Institute, also emphasized, "To strengthen the competitiveness of the autonomous driving industry, it is important to establish preemptive strategies for standards of key autonomous driving components and systems, as well as standards for vehicle information openness."

This content was produced with the assistance of AI translation services.