How the Future of Driverless Trucks Will Disrupt the Global Economy
Recently, about a dozen trucks from major manufacturers including Volvo, Daimler AG (OTC: DDAIF) and Volkswagen (OTCMKTS: VLKAY) completed a week of autonomous driving across Europe, to take part in the European Truck Platooning Challenge, organized by the Dutch government as one of biggest events for its 2016 presidency of the European Union.
Truck “platooning” involves a few trucks linked wirelessly that autonomously follow one leading truck determining route and speed. The platoon of wireless-linked trucks arrived in Rotterdam, Netherlands, signifying a win for the future of driverless transport with the first ever border-crossing trip of its kind. Trucks arrived from factories as far as Southern Germany and Sweden. The news shed light on the ability of driverless trucks to completely disrupt the economy.
The Economics of Autonomous Vehicles
According to Navigant Research, sales of autonomous vehicles will grow from fewer than 8,000 annually in 2020 to 95.4 million in 2035, representing 75% of all light-duty vehicle sales. With most innovation, comes the backlash from traditional suppliers and laborers, as the economy is not always quick to adjust.
Smart car manufacturers point to the increased efficiency, safety and price performance of the driverless convoys versus traditional human drivers. The advantage of an automatic truck in decreasing time and improving efficiency is the ability to stay at a more consistent speed, eliminating heavily congested roads and highways.
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