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Transcript

00:00:02
>> If you've ever wasted time looking for a parking space, imagine a world where the space comes to you. That's the dream fueling Yee Fung Technology, building what amounts to an automated valet. The dreaded parallel parking may soon be a thing of the past. This Chinese company has developed a robot that will do all the dirty work for you.
00:00:24
I'm Stefanie McIntyre for Reuters. It's nicknamed Geta, short for get a car, and it's about to hit the market. It can park a car, riding on a sort of magic carpet platform in under two minutes. It can slip into the tightest of spaces, making quick 360 degrees spins and it doesn't need tracks or a navigator.
00:00:47
Instead, it's guided by lasers and a sensor, meaning no blind spots. When you need your car again, you call the robot back with an app. Yee Fung CEO, Marco Wu, says it can save up to 40% of the space we mere mortals typically need to park cars.>>
FOREIGN]
00:01:06
>> Just like our eyes, it knows where it is by recognizing objects around it. A signal is then transmitted to a computer containing a map which in turn tells the robot where to go.>> The extra space it creates could be crucial in the near future. In five years, official data projects 200 million cars will be cruising Chinese roads.
00:01:25
The company says that Geta's already got the attention of companies and governments from as far away as London, where a parking space sold for two and a half times the cost of an average UK home in 2014. But finesse like this doesn't come cheap, with one of these robots retailing for a cool $150,000 US.