Governmental Strategy Outlines Plans to Boost the Development

The Government have just unveiled their 2017 industrial strategy report and in it, emerges key themes surrounding funding for the UK automotive industry.

Indeed, the 2017 report details plans to develop and fund a new autonomous and connected vehicular test centre, which aims to boost the UK’s standings in technological advancements for the automotive sector.

The sites location has not yet been decided, but it is suspected to produce quite the boost to the local area, providing thousands of jobs and increasing the local economic infrastructure.

Furthermore, the site will help to increase the UK’s development of future technology, adding to the APC centre (Advanced Propulsion Centre) that was built in Coventry in 2013 as part of the Governments previous £1bn investment into the automotive technology sector.

However, with such ambitious plans, the Department for Business, Energy and Industrial Strategy also noted that the toll that the building and running of the facility may lead to an upgrade of the UK’s electricity grid. Indeed, it states that:

“Ensuring that our grid is smart and resilient to new demands – and new sources of supply – will be important for energy security, cost and industrial opportunities.”

Sir Mark Walport, the UK’s chief scientific adviser is said to be heading research on updating grid technology alongside energy storage in order to facilitate the emergence of electric cars.

As well as this, the 2017 report emphasises the need to fund road maintenance and building schemes, alongside public transport networks in order to balance national investment into the automotive sector. An approximation of £1.1bn has been set aside to do so.

The report also suggests that there could be an adjustment to UK taxes in order to help facilitate the costs of research and development and to stimulate investment in the industry. This proactive approach into economic stimulation and specialisation in technology can be seen as an attempt to help propel the UK’s importance in the global automotive marketplace, especially after Brexit will force the UK out of the single market.

Innovations into technology could maximise Britain’s economic opportunities in the face of Brexit, leading to an increase in demand for UK automotive products, and an increased investment into the UK automotive industry. The paper states that:

“”

[The Government] will advise on how best to build on the excellence of UK research and innovation, maximising the opportunity of the UK’s exit from the European Union.” Such changes could benefit the UK’s automotive sector.”

Governmental Strategy Outlines Plans to Boost the Development of Automotive Technology

The Government have just unveiled their 2017 industrial strategy report and in it, emerges key themes surrounding funding for the UK automotive industry.

Indeed, the 2017 report details plans to develop and fund a new autonomous and connected vehicular test centre, which aims to boost the UK’s standings in technological advancements for the automotive sector.

The sites location has not yet been decided, but it is suspected to produce quite the boost to the local area, providing thousands of jobs and increasing the local economic infrastructure.

Furthermore, the site will help to increase the UK’s development of future technology, adding to the APC centre (Advanced Propulsion Centre) that was built in Coventry in 2013 as part of the Governments previous £1bn investment into the automotive technology sector.

However, with such ambitious plans, the Department for Business, Energy and Industrial Strategy also noted that the toll that the building and running of the facility may lead to an upgrade of the UK’s electricity grid. Indeed, it states that:
“Ensuring that our grid is smart and resilient to new demands – and new sources of supply – will be important for energy security, cost and industrial opportunities.”

Sir Mark Walport, the UK’s chief scientific adviser is said to be heading research on updating grid technology alongside energy storage in order to facilitate the emergence of electric cars.

As well as this, the 2017 report emphasises the need to fund road maintenance and building schemes, alongside public transport networks in order to balance national investment into the automotive sector. An approximation of £1.1bn has been set aside to do so.

The report also suggests that there could be an adjustment to UK taxes in order to help facilitate the costs of research and development and to stimulate investment in the industry. This proactive approach into economic stimulation and specialisation in technology can be seen as an attempt to help propel the UK’s importance in the global automotive marketplace, especially after Brexit will force the UK out of the single market.

Innovations into technology could maximise Britain’s economic opportunities in the face of Brexit, leading to an increase in demand for UK automotive products, and an increased investment into the UK automotive industry. The paper states that:

“”[The Government] will advise on how best to build on the excellence of UK research and innovation, maximising the opportunity of the UK’s exit from the European Union.” Such changes could benefit the UK’s automotive sector.”

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2017-03-22T09:07:00+00:00 By |Motor Trade News|0 Comments