UK provides £390 million in funding for autonomous/electric vehicle projects

The British government will provide 390 million pounds (about 484 million U.S. dollars) to accelerate the development of electric and self-driving cars, British Chancellor of the Exchequer Philip Hammond announced last Wednesday.

Hammond announced support for electric vehicle infrastructure as he presented his first budget to parliament. "Reliable transport networks are necessary for the growth and industrialisation of electric and autonomous vehicles," he said, adding that the fund would "build on our strengths in the development of low-emission vehicles and connected, autonomous vehicles".

Hammond also announced a 100% first-year funding subsidy for installing electric vehicle charging infrastructure.

Last month, Japanese automaker Nissan announced two new models in the UK, despite the UK's decision to leave the European Union. This was perhaps the most significant corporate endorsement Prime Minister Theresa May has received since the Brexit referendum in June. At the time, a Nissan spokesman said that Nissan was in talks with the government on how the UK could support and encourage the use of electric vehicles. This is a big deal for the company.

Last year, new energy vehicles, mainly plug-in hybrids and electric cars, accounted for just 3% of the total market in Britain, but sales have risen 23% so far this year as carmakers try to attract consumers in an increasingly competitive market.

The British government is encouraging technology companies and car manufacturers to develop and test autonomous driving technology in the UK, with the aim of building an industry that serves the world and is said to be worth about 900 billion pounds (about 1.1 trillion U.S. dollars) by 2025.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.