Development of autonomous and connected car technologies will raise billons for the UK economy, according to research published today.
Research conducted by KPMG on behalf of the SMMT, says the development of connected and autonomous vehicles will help generate 320,000 jobs in the UK, generate £51 billion pounds in revenue and reduce serious road traffic accidents by more than 25,000 a year by 2030.
The findings are being presented to the industry at SMMTConnected, the first ever industry-wide event in Britain seeking to demonstrate how the UK automotive sector is already developing the cars of the future.
Mike Hawes, SMMT Chief Executive, said, “Connected and autonomous cars will transform our roads and the way our society functions for generations to come, dramatically reducing accidents and helping to deliver more than £50 billion to our economy. The KPMG report clearly shows the UK automotive industry is leading the way in developing the cars of the future and that it will act as a catalyst for wider economic benefits that will create more than 300,000 jobs by 2030. The UK must grasp the opportunities ahead and ensure it is continually at the forefront of pushing through these next breakthrough technologies.”
The UK has taken a lead in the pushing the autonomous driving agenda, helped by government investment and a legislative advantage over European rivals.
Chancellor George Osborne last week announced a £200 million government and industry investment into driverless research, development and demonstration in the UK.
Uniquely, the UK never ratified the Vienna convention some decades ago which means there is no legal impediment to driverless cars being used on the roads. As a result, driverless car trials have already started in three British cities this year, yet other European countries need to seek legislative changes to do the same.