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Parking woes for car drivers inspire startups
Print Edition
THE difficulties car drivers in Shanghai face in finding a parking space have created an opening for startups in the city to develop technologies on parking information and services, Shanghai Daily learned yesterday.
Firms in the Zhangjiang High-Tech Park showed off latest parking technologies, including real-time parking information and payment application. Smart driving is one of the areas for the park to develop due to a strong automotive industry, a conducive environment for startups, talent and innovation in Zhangjiang and Shanghai, local officials said.
“A third of drivers in Shanghai find it difficult to find parking lots at reasonable prices, especially in commercial zones,” said Yu Zheng, general manager of startup EZ Parking, which offers services for Mercedes-Benz and Subaru. “It’s a problem for all drivers in major cities today.”
It takes drivers in Shanghai about 20 minutes on average to find a parking lot finally, which wastes time and energy, industry officials said.
With a new app targeting consumers, drivers are able to use their smartphones to find real-time parking information on available parking space such as price and estimated time to reach the lot. They can also book parking space and pay through the app, Yu added.
China’s telematics market revenue will reach 150 billion yuan (US$23.5 billion) in 2015 and is set to grow 30-50 percent annually by 2020, according to a report.
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