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According to BGR
Depending on which particular tech luminary you listen to, self-driving cars are somewhere between one and ten years away from reality. But one thing everyone agrees with is that they’re coming, and they’re going to fundamentally change transportation.
The outstanding questions are when fully autonomous cars are going to appear on our streets, and when they’ll be smart enough to entirely change how we own cars.
The Economist took a deep dive into autonomous vehicles in a recent special report. According to analysis from UBS, the per-mile cost could be brought down so low by autonomous vehicles that it makes huge financial sense for consumers to stop owning cars, and just use a self-driving Uber to get everywhere:
Ride-hailing services in the rich world currently cost around $2.50 per mile, compared with about $1.20 per mile to own and operate a private car (see chart). But the driver accounts for about 60% of the cost of ride-hailing. UBS, an investment bank, reckons that automation, competition and electrification (which makes cars more expensive to buy but much cheaper to run) will cut the cost of ride-hailing by 70%, to about $0.70 per mile. So a typical Western household driving 10,000 miles a year could ditch its car, use robotaxis and save $5,000 a year. And there are other advantages, explains Mr Thrun: “You can be drunk, you don’t have to look for parking, and your kids can take the car.”
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