‘Peak hype’: why the driverless car revolution has stalled

As Uber parks its plans for robotaxis, experts admit the autonomous vehicle challenge is bigger than anticipated

By 2021, according to various Silicon Valley luminaries, bandwagoning politicians and leading cab firms in recent years, self-driving cars would have long been crossing the US, started filing along Britain’s motorways and be all set to provide robotaxis in London.

1 January has not, however, brought a driverless revolution. Indeed in the last weeks of 2020 Uber, one of the biggest players and supposed beneficiaries, decided to park its plans for self-driving taxis, selling off its autonomous division to Aurora in a deal worth about $4bn (£3bn) – roughly half what it was valued at in 2019.

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European companies can’t compete against global giants

Finance ministers say Europe is increasingly dependent on Chinese and US technology

It boasts the world’s second biggest economy, a huge consumer market of about 500 million people and prodigious pools of talent and capital, not to mention two of the world’s most important financial centres.

But Europe is struggling to match its great rivals, the US and China, in creating the kind of global firms that increasingly dominate the 21st-century marketplace.

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