Tekcapital's Guident celebrates as Florida legalizes self-driving cars
Anita Riotta
Company News- 3 min read
10:07, 3rd May 2019

A bill passed unanimously by Florida Legislature on Wednesday legalizing the use of self-driving cars in the state has become cause for celebration in the automotive industry.  

The new bill, now awaiting a final signature from Governor Ron DeSantis, also sets out a provision that would allow Florida residents to interact with self-driving cars through smartphone apps. Additionally, the bill legalizes on-demand autonomous vehicle (AV) networks, which are the services that allow passengers to hire autonomous vehicles through apps.

These features arguably offer the greatest benefit to the automotive industry as a whole, as they allow more players than just car manufacturers to participate and profit from the new regulation. 

And getting in on the AV action is essential for those hoping to remain in the automotive industry, as the autonomous vehicle market is expected to reach $65.3 billion by 2027.

And these players, of all sizes, have been quick to share their excitement at Florida’s news. 

Uber’s senior policy manager Stephanie Smith said in a media release, “On behalf of Uber, we thank the Florida Legislature and their leadership in helping Florida continue to be a leader in welcoming self-driving technology.

This measure provides direction on the roles of state and local government and authorization for the deployment of automated vehicles on a ridesharing network. These provisions establish a clear pathway to bring the benefits of automation to our state."

Harald Braun, Chairman of AIM-listed Tekcapital’s (TEK) FOLLOW fully owned subsidiary Guident, which commercialises new automotive vehicle technology, stressed how governments’ support and willingness to regulate the automotive vehicle sector is “one of the main criteria for market success of AV’s.”

Mr. Braun also commented: “Guident Ltd. welcomes this visionary decision. With this bill, Florida has made a tremendous step forward in enabling the market for Autonomous Vehicles and their control using mobile devices.” The new legislation is directly applicable to Guident’s proprietary intellectual property and enables their business mission of developing apps to enhance the safety and utility of autonomous vehicles and drones.

 

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