There was no doubt that priorities shifted in investment, across most sectors, off the back of the economically disastrous effects of the global pandemic. One of the sectors that slammed on the brakes was the autonomous vehicle industry.

As we slowly but surely emerge from the dark tunnel of COVID-19 it seems the development of AV is back on track, and we’re seeing carmakers and technology companies partner up.

Why tech is key for the future of driverless cars

Technology is front and center when it comes to developing a fully autonomous vehicle, and car manufacturers are cooperating in order to realize this milestone. For example, Daimler signed an agreement with Waymo to provide autonomy-level driving for its trucks, and also signed on the dotted line with Nvidia to develop new vehicle architecture.

Automakers fear being overtaken by tech

The black and white checkered flags have been dropped and the race is on! The reality of autonomous vehicles producing efficient, environmentally friendly solutions to the transport industry have led companies like Google to jump on the (driverless) bandwagon.

Who are the biggest contenders in the AV industry?

It’s estimated that by 2025, electric vehicles will make up 16% of global passenger vehicle sales, going up to 33% in 2030 and 68% in 2040. We can predict that autonomous vehicles will reshape the automotive industry entirely.

With this, it comes as no surprise the top three tech giants are all vying to get into the fast lane when it comes to driverless car development and production.

Let’s take a look at what these top tech front-runners are mapping out:

Amazon – how could this tech web-based retailer benefit from investing in AV’s? Imagine how their costs would plummet using driverless cars to deliver packages to homes across the US? They’ve started by putting their money behind Rivian Automotive Inc, a company who makes electric trucks and owns driverless car startup Zoox. Apple – plans for ‘Apple Car’ are well under way for this tech giant. Still to be determined is which automaker they will partner with in order for them to realize their AV dream. Watch this space!

Google – no stranger to the industry, Google’s former self-driving car project headed by Waymo is said to raise $4 billion. Google itself is estimated to have invested (hold onto your hats) …$60 million in autonomous vehicle research and development over the last two years.

Technology and autonomous vehicles are taking to the highways at great speed. Blink and you might miss it. Take a closer look at how tech companies are taking the autonomous vehicle industry by storm.