Baidu eyes mass production of driverless cars in five years

BEIJING -- In the race for driverless cars, Chinese tech giant Baidu is no slow gamer. In the next five years, the company aims to bring the technology to ordinary citizens, according to Wang Jing, Baidu senior vice president.

"In three to five years, we'll bring down the cost of radar sensors to below 20,000 yuan (about $3,100 dollars)," said Wang.

The company will choose 10 cities to try out driverless cars this year, making the technology safer based on data and analytics. In three years, Baidu aims to commercialize the technology and mass production will be achieved in five years.

By launching the project on autonomous cars in 2013, Baidu joined the race with Internet giants and car makers in a crowded market. Companies such as Google and Tesla Motors are investing big in the field, hoping that the technology will disrupt the future of traveling, and delivering.

There are concerns, however, such as road safety, information security, and regulatory uncertainty, which are hindering the commercialization of the segment.

Despite the uncertainties, Baidu is putting a lot of time and effort on driverless cars, and investment is flowing in.