Thirteen of the world's fourteen largest automakers have announced plans to bring autonomous vehicles to market, meaning the development of driverless vehicles is no longer a futuristic pipe dream, but something that's already happening around us.
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 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, covering data protection, the moral algorithm and the cyber security of driverless vehicles, have already been released. Future papers in the series will discuss changes to infrastructure and social aspects of driverless 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 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 autonomous vehicle (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. Tesla, Google and Bosch.
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.