Government ploughs £20m into driverless car fund
The government has promised £20m to a research and development fund for driverless cars in a bid to put Britain at the forefront of the booming industry.
The driverless cars sector is estimated to be worth £900bn by 2025, and could open up as many as 320,000 new jobs.
“To boost productivity Britain will need to capitalise on new technologies like driverless vehicles, securing high-skilled jobs for those who want to work hard and get on, and contributing to a more prosperous future for the whole of the country,” explained Business Secretary Sajid Javid as he announced the fund.
“Our world beating automotive industry, strengths in innovation and light touch regulatory approach to testing driverless technology combine to make the UK market competitive and an attractive destination for investors.”
The fund will be awarded following a competition to find the most innovative approach for driverless car technology. However, the winning proposal will also have to match the £20m fund with their own money.
It comes after the government was, earlier this year, criticised for having a “passive attitude” towards to imminent arrival of autonomous vehicles. It has since introduced a joint policy unit, the Centre for Connected and Autonomous Vehicles (C-CAV), to coordinate government policy on driverless cars.