The Aspen Institute and Michael Bloomberg's philanthropic foundation are teaming up on a new initiative to pave the way for self-driving cars operating in the world's cities.

The institute and Bloomberg Philanthropies on Monday announced the creation of the Bloomberg Aspen Initiative on Cities and Autonomous Vehicles, in which “leading global mayors … will work together to prepare their cities for the emergence of autonomous vehicles,” according to a news release.

The inaugural list of cities includes Austin, Los Angeles and Nashville as well as Paris, and Buenos Aires. Five more cities will be named later this year.

The Aspen Institute -- based in Washington, D.C., but with a significant base in Aspen -- was founded in 1950 by Aspen Skiing Co. founder Walter Paepcke.

Read more at the Denver Business Journal: