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Fully autonomous cars will cost hundreds of thousands

Luminar

The first generation of truly autonomous cars — in which you can safely doze off through city and highway driving, and never have to touch the wheel — may cost $300,000 to $400,000, says the CEO of a Silicon Valley company that makes autonomous sensing systems.

  • In other words, you and I are highly unlikely to be able anytime soon to own a car that takes us anywhere we want to go while we read the newspaper, according to Austin Russell, CEO of Luminar, a Silicon Valley startup that's developing a Lidar visual system for self-driving.
  • The reason: The expense of Lidar and other sophisticated sensing devices required to make autonomous cars safe around unpredictable humans. Russell said such technology doesn't currently exist, but that when it does, it will at least initially be almost the exclusive preserve of ride-hailing fleet owners such as GM, Lyft and Uber.
  • "People think that they'll go and buy and autonomous cars. That's not going to reflect reality," Russell tells Axios.