Developments in the autonomous vehicles (AVs) market are accelerating at a rapid rate.
Most of the world's biggest carmakers and technology giants have announced plans to bring Connected and Autonomous Vehicles (CAVs) to market, some as soon as 2021, and it's predicted that the industry could be worth $7 trillion by 2050.
The UK is set to become a global hub for the development of autonomous and connected vehicle technologies, with three key consortia championing the UK as a leader in this market.
Gowling WLG is the only law firm part of UK Autodrive, the largest consortia currently trialling automated vehicle technology as part of a government-backed initiative to support the introduction of self-driving vehicles into the UK.
Our white paper series
As the only law firm involved in a UK consortium, we are contributing to the thinking on societal and legal issues around the development of autonomous vehicles by developing a series of white papers.
As part of the series, we ask questions like... What are the data protection risks when it comes to driverless vehicles?, Is there enough regulation around the moral algorithms of driverless vehicles? and Is it possible, or even feasible, to make these new vehicles cyber resilient?
The first three in the series cover data protection, the moral algorithm and the cyber security of driverless vehicles, and our latest paper discusses the challenges of reshaping our infrastructure in preparation for CAVs.
Our first white paper looks at the importance of data protection.
Is the industry being helped or hindered by data protection regulation? And how will the General Data Protection Regulation influence the sector's progress?
Our second white paper discusses how AVs perform in 'moral dilemmas'.
How will a driverless vehicle make a decision when posed with a dangerous situation, and how will this programming be regulated?
Our third white paper looks at cyber security in connected and autonomous vehicles.
The paper asks whether there is enough collaboration among the manufacturers to share information and adopt best practice procedures when it comes to the cyber security of these vehicles.
Investing in AVs - changing perceptions
As well as our white paper series, in conjunction with economic research agency Explain the Market, we have commissioned a year-long research project to track investment in the UK autonomous vehicles sector. The study will track the confidence, attitudes and opinions of 1,000 UK investors on the autonomous vehicle (AV) sector and reveal what investors really want as the sector develops. The study will also probe the real barriers and factors that impact confidence.
The latest results
Results from the second quarter of the study reveal how investors view the performance of a range of different players in the AV market. Tesla, Google and Bosch are among those brands which investors believe to have the highest potential for success in the AV market.
"When it comes to the AV sector - research shows UK investors are backing innovation from a wide range of sources. UK investors clearly have confidence in both the old and the new, the big and the small. They are tracking the best ideas and conditions whether they come from start-ups or corporate giants."
Stuart Young, head of automotive at Gowling WLG
To find out how investors ranked other brands in the market, take a look at the full report.
Results from this first quarter of research reveal widespread support by professional and private investors for the UK Autonomous Vehicle (AV) sector.
64% of investors say they believe driverless vehicles will be on UK roads within 10 years.
Over 10% of investors already claim to be actively investing in the sector, and - whilst 67% of UK investors are considering investing in the sector either now or in the future - almost 70% want more information about AV investment opportunities.
"Cars can already do so much. Things are moving fast but I'd like to understand better how to get involved from an investment perspective"
Source: Q1 AV Tracker private investor interview
To find out more about what investors have to say, download the full report.
To find out more
For more information or to discuss how we may be able to support you, please contact Stuart Young.