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-listedfully 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.
For more news and updates on Tekcapital:
Tlou's Managing Director, Mr Tony Gilby said “The Company will now progress with additional work on the ground to deliver a Gas-to-Power solution that can bring significant benefits to the country and to our shareholders. I look forward to updating the market as we continue to develop the project."
Tone Goh, Executive Chairman of GST, commented: "The Company is delighted to have signed this LOI with SIAM. SIAM are one of Thailand's leading business groups and we look forward to working with them to progress this planned data centre project.”
Five financial stories, trending today in a 60 second podcast, including: Google has barred phone maker Huawei off from receiving some updates to the Android operating system, dealing a blow to the Chinese firm and their new smartphones will also lose access to popular Google apps. The move comes after the Trump administration added Huawei to a list of companies that American firms cannot trade with unless they have a licence.
On today's podcast: Glen Goodman author of, "The Crypto Trader", talks about the recent rise, fall and rise again of Bitcoin. Russ Mould covers Stock Spirits, Nichols & Vodafone. Alan Green talks about: Cadence Minerals, RA International & BigDish.
SP Angel research note on commodities and miners, featuring: Anglo Asian Mining* (AAZ LN) BUY – 126p – Earnings update African Battery Metals* (ABM LN) – Kisinka copper-cobalt project field programme completed BlueRock Diamonds* (BRD LN) – Funding raised to implement new mine plan Pan African Resources (PAF LN) – Q3 results on track to meet guidance of 170,000oz of gold production