FIRST AIRED: July 5, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

Tech

A Chinese robot to solve city parking misery

Opening sequence

Opening sequence

Tech

A Chinese robot to solve city parking misery

0:00
17:58
More Info

COMING UP:A Chinese robot to solve city parking misery

×

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.