China Releases Big Plan for Autonomous Vehicles
The world’s auto market is in the doldrums and China, as the world’s largest auto market, has suffered almost two-years of starkly declining sales and now the novel coronavirus (COVID-19) epidemic has crashed the already anemic sales. The automotive sector has been heading for disruption for some time now. The virus outbreak may have pushed matters further. China signaled its intention to play a key role in the development of autonomous vehicles when on 24 February 2020 eleven central level Chinese governmental departments jointly issued the Strategy for Innovation and Development of Intelligent Vehicles (the “Strategy”). The Strategy sets forth a blueprint as to how the Chinese government will boost the development of autonomous vehicles over the next thirty years.