Philip Hammond's Budget Promises Driverless Cars by 2021
An extra £500million for car technology
by Abi Moses on 25th November, 2017
Covering the subject of driverless cars frequently, here at Car Finance Deals, we were thrilled to learn the details of the Autumn Budget; a document that put autonomous driving as a topic of national importance; exploring the economic and environmental benefits such a transport set-up would boast. Dedicating an additional £500million into electric and driverless car projects, this news was welcomed by various parties and organisations.
Red-tape will now be removed to allow technology firms to test on the roads of the UK, a hurdle that many companies have struggled to overcome. Recognising the tech advancements, Hammond said:
"For the first time in decades, Britain is genuinely at the forefront of a technological revolution.
"Our future vehicles will be driverless but they will first be electric - that's a change that needs to come as soon as possible."
Ploughing £500million into electric cars, the funding will be split, spending £100million to extend the grant for motorists buying plug-in cars. The rest of the money (£400million) will go towards installing electric charging points; an area that needs to be visited if fuel is completely scrapped.
Other Budget topics included the scrapping tax for those charging cars at work as well as training and self-driving research projects.
With such announcements coming as a pleasant surprise for many, big vehicle brands have inevitably passed comment. At present, Volvo, BMW and Jaguar Land Rover lord the market, with the ever-growing sector thought to be worth £28billion by 2035.
Competing against the likes of Silicon Valley, how likely is it that UK will forefront car technology? Leave your comments below.