Technology continues to redefine the manner in which we carry out various tasks, from requesting a taxi from the comfort of your home using your smartphone to new computer technologies that allow us to get maximum utility from electronics.

The automobile industry is keen on reaping maximum profits from the new driverless cabs, dubbed, Robotaxi. Since the inception, these new generation taxis have gained a massive popularity across the globe. The autonomous technology used to develop these taxis has gained the attention of three leading car manufacturing companies: Renault, Mitsubishi, and Nissan. The three companies have formed an alliance with one primary goal – investing heavily into the robo-taxi business.

Carlos Ghosn, the chairperson, is on record saying that even though this advanced transportation solution looks exciting and will definitely take over the market, it will never replace the traditional modes of transportation fully. However, he acknowledged the importance of embracing the technology to enhance the three-car manufacturing companies’ competitiveness in the market.

The three companies have held a series of meeting to discuss the way forward to ensure that every dollar pumped into the project delivers the expected returns. Alliance Senior Vice President Ogi Redzic is currently supervising more than 1,000 experts in the automobile industry who are tasked with creating connectivity services purposely for this project. He has also promised to announce more partners who will be brought on board to ensure that the project is a success.

At the moment, it is not clear if the three companies prefer to develop self-driving cabs for their customers or start their own taxi-hailing services to compete with other already established companies such as Uber. If they settle on the latter, the established taxi companies will have no reason to invest in the project. All three companies, Renault, Mitsubishi, and Nissan, have so far invested $8.3 billion.