By Matt Hervey
This short guide highlights key areas requiring action by companies in the UK’s automotive sector involved in the development of new technology. These include: access to funding (Horizon 2020; the European Investment Bank (EIB); the impact of Brexit on original equipment manufacturer (OEM) investments; financial sector contraction; and potential areas of government investment in the absence of state aid rules); access to skilled workers; the potential divergence in legal and regulatory frameworks, including the Digital Single Market and data protection issues; intellectual property; and technical standards.
The automotive sector has always invested in new technology and is estimated to have spent £12 billion on research and development between 2009 and 2015. The sector is increasingly committed to large investments to develop autonomous, connected and electrical vehicles and in experimenting with new models of shared ownership. Incumbents face existential threats from competition from electronics and internet companies and the pressure to be first to market with the winning “platform” for mobility as a service.