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Tesla, Ford and VW sound the death knell for driverless car hype

By David Welch and Craig Trudell

27 Oct 2022 · 4 min read

Editor's Note

We may well be able to buy fully autonomous vehicles one day, but don't hold your breath. As Bloomberg reports, automakers are still trying to develop the technology to make such cars profitably.

The autonomous-driving sector just endured a day that tech and automotive giants may well look back on the way Wall Street recalls March 16, 2008.

Whereas the day Bear Stearns collapsed was an epochal event in the global financial crisis, when flawed assumptions about the value of mortgages pushed banks to the brink - and some over the precipice - Oct. 26, 2022, will go down as the date that seismic consequences emerged from years of faulty presumptions about driverless-vehicle technology.

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