The full economic value of self-driving vehicles in the UK has been revealed, as Transport Minister Rachel Maclean sets out that the connected and autonomous vehicle (CAV) market could be worth £41.7 billion by 2035.
The report forecasts that in 2035, 40% of new UK car sales could have self-driving capabilities, with a total market value of £41.7 billion – setting the future of self-driving vehicles further within Great Britain’s grasp.
This could in turn create nearly 40,000 skilled jobs in the CAV technology area, strengthening the UK economy and reinforcing this government’s commitment to building back greener and stronger.
Transport Minister Rachel Maclean said:
"The investment in and development of CAVs could truly transform the way people and goods are transported, with innovation like this at the heart of our ambition to build back better."
"We’re on the cusp of a driving revolution. Not only could this tech unlock vast opportunities for the UK economy and jobs market, it could significantly improve the safety and efficiency of how we travel over the coming decades."
Birmingham Northfield MP, Gary Sambrook Added "Birmingham and the West Midlands is leading the charge on electric and autonomous vehicles. Which will provide jobs and economic growth for our area in years to come"
Since 2015, government has worked to make the UK one of the best places in the world to develop and deploy CAV technology.
Government has already invested £200 million into CAV research and development (R&D), helping British start-ups develop their tech for use both in the UK and internationally.
Together with industry, this investment has led to many successes.
Read the official government full press release here: https://cutt.ly/EjRbZx9
