Supportive government policy and high levels of investment in research and development (R&D) are facilitating the rapid growth of China’s capabilities in the future transport sector. McKinsey forecasts China’s transport market will be worth US$500 billion by 2030.
Established Chinese technology companies such as Baidu, Tencent and BYD, as well as fast-growing technology firms such as Deep Blue and startups such as Pony Ai, are leading the development of China’s domestic connected and autonomous vehicles (CAVs) sector.
Australia is actively progressing CAV technologies by rapidly developing and supportive domestic regulatory environment, supporting trials by domestic and international companies, and undertaking advanced R&D. There is a core group of Australian companies with niche technologies to offer China and other markets.
Through meetings and site visits in Beijing, Shanghai and Shenzhen, the Australian Future Transport Mission to China in March 2019 will connect Australian businesses, researchers and policymakers with leading Chinese companies and industry players, and provide delegates with an in-depth overview of a rapidly evolving market.