Chinese companies eye autonomous car market

Beijing

MORE than 10 Chinese companies are hoping to launch autonomous cars within the next five years. But analysts say it could be easier said than done and that despite their ambitions, many won't make it to the finish line.

Both traditional carmakers and Internet companies face high financing costs, legislation that has yet to be defined and technical issues.

Last April, during the Beijing auto show, traditional car makers such as Chang An or Chery along with high-tech companies such as Baidu or LeEco, which makes television sets, all displayed what they hope will be the car of…