📺 Stream EntrepreneurTV for Free 📺

This Chinese Robot Parks Your Car for You The dreaded act of parallel parking could soon become a thing of the past with Chinese inventors backing their new parking robot to take away the stress for anxious drivers.

By Reuters

entrepreneur daily

This story originally appeared on Reuters

Reuters

The dreaded act of parallel parking could soon become a thing of the past with Chinese inventors backing their new parking robot to take away the stress for anxious drivers.

The laser-guided "Geta" (get a car) robot slides under your vehicle, picks it up, finds a parking space in the lot and places the car in the tightest of spots.

The soon to be launched robot needs just two minutes to park a vehicle, does not need tracks, has 360 degrees mobility and will utilize space better than humans, said creators Yee Fung Automation Technology, based in the south China city of Shenzhen.

"The parking robot is designed to increase parking space," Yee Fung's 33-year-old chief executive and brainchild of Geta, Marco Wu, told Reuters.

"The robot can go everywhere ... and will reform parking in the future."

Mainland China is expected to have more than 200 million cars by 2020, the government say, meaning that finding space to park could become increasingly difficult.

Wu said Geta finds spaces by transmitting signals to a computer containing a map which then directs the robot to an available spot.

The purple and lime green robot will cost more than 1 million yuan ($150,000) and Wu said there had been lots of interest from cities where space is at a premium.

"There are many companies interested in our products, such as commercial property companies in Singapore and London, public parking companies in the Middle East, and developers, governments, as well as public parking companies in China," he said.

(Reporting by Reuters TV; Editing by Patrick Johnston)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

He Started a Luxury Side Hustle at Age 13 — Now the Business Earns More Than $10 Million a Year: 'People Want to Help You When You're Young'

Michael Morgan, now the owner of Iconic Watch Company, always had a passion for "old things" — and he turned it into a lucrative venture.

Thought Leaders

It's the End of the Entrepreneurial Era As We Know It

With the rise of advanced technologies and AI, are we losing all sense of the independent business person and entrepreneur?

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business Plans

From Camera-Shy to Camera-Ready — Here's What to Consider Before You Go on Camera

Are you ready to be on camera? Here are a few things to consider.