The government has announced that it’s to make £20m investment into driverless vehicle technology in a bid to make the UK a global hub for the production of self-driving cars.
Business Secretary Sajid Javid and Transport Minister Andrew Jones have put together a proposal, which invites businesses to pitch ideas for advancements in areas like reliability and connectivity.
Funding will then be awarded to the bidder with the most innovative approach to developing the technology, with the best proposal having to match the £20m grant with their own money.
The money will be taken from the £100m investment fund for intelligent mobility, which Chancellor George Osborne announced back in April as part of the spring 2015 Budget.
Ministers hope that the cash injection will set Britain up as the best place to test autonomous vehicles, paving the way for a market which is estimated to be worth £900 billion by 2025.
Transport Minister Andrew Jones said: “Driverless cars will bring great benefits to our society and economy and I want the UK to lead the way in developing this exciting technology.
“Our code of practice clearly shows that the UK is in the best position when it comes to testing driverless cars and embracing the motoring of the future. We now look forward to working with industry to make this a reality.”
The government has also set up a new joint policy unit, the Centre for Connected and Autonomous Vehicles, which will coordinate Whitehall policy on autonomous vehicles and other technology.
Along with developing driverless cars, the Centre will work to advance technology that improves traffic flow on existing roads, and improves connectivity and information sharing between drivers.
Business Secretary Sajid Javid said: “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.
“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.”
