Far from sunny streets of Phoenix, where Alphabet Inc.’s Waymo had been testing their plays, a growing number of European start-ups had been developing autonomous vehicles to charter through the congested market of driverless cars in London.
In fact, according to multiple media reports, startups such as Wayve, Oxbotica and FiveAI had been testing their self-driving vehicles in United Kingdom, saying that the old European rain-swept streets may have challenged tech giants likes of Alphabet’s Waymo, Uber, Aurora and a many more.
Although the odds are higher and investments appeared to be running low in contrast to their US rivals, European startups had been saying that they were centering their focus more on to elegant technologies to grapple up with heavily clogged London streets.
Adding that a self-driving vehicle being tested in an empty highway of Arizona could barely hold on to a busy London street, a stakeholder in autonomous vehicle developer, FiveAI, Alex Van Someren of Venture Capital Investor at Amedues Capital, said, “A car trained to drive on the wide open highways of Arizona isn’t going to survive on the streets of Croydon.
It’s a totally different environment,” while another UK-based investment group, Boston Consulting had been quoted saying on Thursday, the 11th of July 2019, that, the reign of self-driving vehicles would likely to pump up about 150 billion in fresh profits by 2035, which could hold a fortune for any self-driving startups.