China’s regulatory environment fosters Level 4 AV innovation

China is on course to overtake the US in the autonomous vehicle (AV) market, despite the latter claiming an early lead in 2020. Worth only US$1.5bn in 2021, MarketResearch.com forecasts a 2030 valuation of US$98.9bn for the Chinese AV sector, a dramatic 6,433% increase. For comparison, the US is currently expected to barely exceed US$10bn by the same year.