UK: Budget 2015: Will driverless investment push Britain into the fast lane?
24 March 2015
Posted by: Author: Deloitte LLP
Author: Deloitte LLP
Commenting on the Chancellor's announcement of a £100 million investment for Research and Development into Intelligent Mobility, which will focus on enhancing the development of driverless car technology and the systems required to implement and adopt the technology, David Raistrick, UK automotive leader at Deloitte, said:
"Driverless vehicles are expected to be a multi-billion pound industry over the next decade. Those countries that are most likely to benefit will be early adopters, supported by early investment. This will lead to greater global positioning and involvement across the wider industry.
"Whilst £100m is not significant in terms of the overall level of investment required, it is nonetheless, a valuable step in the right direction. If the UK is to benefit from the many advantages of this technology, we must continue to be committed to its development.
"With the value of the global car and commercial vehicles market estimated as being in excess of $4 trillion, it is vital that Britain is at the forefront of the development of this emerging technology. There is little doubt that autonomous vehicles are going to make a major contribution, both positive and disruptive, over the coming decades and government must play its part in ensuring that the infrastructure necessary to support its adoption is in place."
This article first appeared on mondaq.com.