Rack and Rail Robot Is Ultimate Parking Experience

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July 12 (Bloomberg) -- Automation Parking System Executive Director Ari Milstein discusses robotic parking technology with Erik Schatzker on Bloomberg Television's "Market Makers." (Source: Bloomberg)

So agv's is the technology.

What do you use?

We use the rack and rail system that has been used in manufacturing plants and automated material handling systems for the past 30 years, applying them to cars and parking.

We take conventional parking and cut the space in half.

But you are also cutting jobs of auto attendance, aren't you?

Rather than driving the cars, they are managing the facilities.

There is still the need for staffing, but they have different responsibilities.

Given that space is the big saving, is it more sensible for cities like new york, where there is not just high demand but high-cost real estate, more so than a city where there seems to be a lot of space?

Absolutely.

The urban areas, new york city in particular, are among the first users of this technology.

We were rewarded -- we were awarded by this city of new york to build a parking garage underneath the park in downtown brooklyn, which is part of a centerpiece of a $2.5 billion downtown revitalization of the plan.

What does a 700-car garage cost?

It costs between, for the equipment, probably $2500 of space.

How does that compare to a regular garage?

It would cost $90,000 to build because of the amount of depth they would have to dig in a shallower space.

Does automotion build it, operated, and own it?

We build it and operate it, but we do not own it.

You can get a lot more space and limit your land cost and limit how much property you would have to buy to build and to own.

And your profitability goes up because of the operating cost savings, so we have several savings over valet garages, limiting the amount of people that you have to turn over.

What is it like in automated garage?

Typically you will get to similar profitability levels.

You are able to build much more valuable spaces.

What if there is a malfunction?

We have a full-service maintenance team that has remote access to everything we do and everything we build and can immediately fix any issues.

Is it better for the environment?

One of the reasons new york city awarded us the major product that is the centerpiece to this revitalization is the fact that there is a park sitting above the parking system.

Trying to figure out how to ventilate all the fumes in a conventional garage where from -- where cars are driving into our spot -- into a park space is less than ideal.

The cause of the elimination of the driving process, we have eliminated the pollution associated with it, which allows you to have a nice park for the kids to play in without getting sprayed with diesel fumes.

When something does go wrong, what kinds of things go wrong?

Occasionally we will have issues where a pallet does not get pushed back in.

Nothing major.

We have parked almost 300,000 cars in our facilities and we fill up every day.

We have successful operations all over the place, and we have been able to have an expertise and an experience of success that has allowed new york city to be comfortable to rely on the size of facility.

People are very interested about this.

"what if there is a major power outage and flooding like hurricane sandy?" in those situations there is a waterproof vault area.

You can see what we're looking at here -- this facility made it through the flood without any issues.

We have generators that have allowed access to vehicles.

We are much better prepared for a situation like that than the conventional garages, where many cars got washed away in soho and places like that.

Thank you very much.

This text has been automatically generated. It may not be 100% accurate.

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