UK government readies £20 million driverless cars investment

Britain is pouring money into the driverless cars industry and wants to become the number one country for all those looking for a place to test their cars of the future.

According to a report by The Telegraph, the UK government is launching a £20 million research and development fund, dedicated to this emerging industry.

Funding will be awarded following a competition to find the bid with the most innovative approach to developing the technology, Telegraph says:

“Projects will have to consider how the futuristic vehicles will communicate with one another and the surrounding environment. Safety, reliability and an effective means for different vehicles to communicate with each other will be the top priorities. The bidder with the best proposal will have to match the £20m with their own money.”

Driverless cars industry is said to be worth £900 billion by 2025, with more and more automakers jumping on the bandwagon each day.

What started as a Google X ambitious sci-fi project some ten years ago, has now transformed into inevitability. BMW, Lexus, Mercedes-Benz are just some of the many carmakers rushing to create an autonomous, robotic car.

Sajid Javid, the Business Secretary, 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.”