The UK government is spending £150 million ($190 million) over the next seven years to support its plan to take the lead in self-driving technology. There is a significant focus on manufacturing to place the UK as the top choice, by investing in British manufacturing.
“Funding will be delivered to eight sectors that are key to economic growth, energy security, and leveling up,” announced the government.
This funding for Connected and Automated Mobility (CAM) will be matched by industry. It will also enable the UK’s Centre for Connected and Autonomous Vehicles (CCAV) to cement the country’s place among world leaders. It has the potential to set the UK apart from others by its sleek design, development, deployment, and manufacturing of self-driving technologies.
“CCAV is working to create an early commercial market and secure first mover advantage in deploying self-driving vehicles and services,” says the government. It has been building on around £600 million ($750 million) of joint investment with the industry in over 100 projects across the UK since 2015.
Mover advantage can help the UK government gain a competitive advantage by being the first to market self-driving products or services. It can bring strong brand recognition and customer loyalty before competitors enter the arena.
Economic benefit of self-driving cars
The latest research suggests the economic benefits of CAM for the UK could be £66 billion ($82 billion) per year. It can also add an additional 342,000 jobs by 2040. But this can only be achieved if the government intervenes appropriately in policy, regulation, funding, skills, and public communication.
This funding can boost the UK’s development and implementation of CAM. It can also transform how citizens get around safer, but also create jobs and grow the UK economy.
Last month, King Charles announced that the government has a new Automated Vehicles (AV) Bill. It will deliver one of its most comprehensive legal frameworks. Many countries could also benefit from the document, with the safety and innovation of self-driving vehicles at its core.
Broadening the horizons
The funding complements the legislation, and it’s crucial for the UK CAM sector. This will take self-driving transport further than just privately owned vehicles and robo-taxis. It will boost logistics, mass transit, mining, agriculture, and defense sectors.
The bill will target market segments and capabilities. “The UK currently has a comparative and competitive advantage,” says government.
The Centre of Excellence for UK Connected and Automated is also set to work closely with the government. This is to support small businesses and give them access to finance, international engagement, and exports.
About the author
Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
