Mckinsey: By 2035, autonomous taxis will account for 45% of China's shared mobility.

Macquarie analyst Eugene Hsiao reports that this year will be a crucial year for the development of unmanned taxis in China. He added that the leading companies in the Chinese unmanned taxi market are expected to address issues such as vehicle availability, operational know-how, and intra-city expansion. He said that this will help achieve positive unit economics, with average daily fares per vehicle expected to rise to over 300 yuan. He added that by 2035, unmanned taxis may account for 45% of China's shared travel, with the total market value expected to reach $68 billion. Hsiao also said that as the utilization rate of unmanned taxis increases, the market share of traditional human-driven ride-hailing services could significantly decrease, as their customer base overlaps with that of unmanned taxis.