Bulletin

Driverless cars to boost economy by £51bn

cars

The Society of Motor Manufacturers and Traders has commissioned a study from KPMG that says self-driving cars will boost the UK economy by £51bn. It will generate 320,000 new jobs around the UK, and reduce serious road traffic accidents by more than 25,000 a year by 2030, according to the report. A quarter of all cars sold are also expected to be fully autonomous by the same year and every new vehicle coming on to the roads will incorporate 'connected' systems linking it to the online world. Britain has been able to take an early lead in developing the technology because it has never ratified an EU convention that required vehicles to have a driver. Already four pilot schemes - in London, Bristol, Milton Keynes and Coventry - backed by £19m of Government money are under way to investigate how the technology can be used, and a further £100m of funding to investigate the technology was announced by Chancellor George Osborne in his Budget speech. The sum will be matched by industry.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?