Autumn Statement 2016: Investment in electric and driverless cars will charge up auto sector

Investment in electric and driverless cars

John Leech, Head of Automotive for KPMG in the UK, comments on the today's Autumn Statement.

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John Leech, Head of Automotive for KPMG in the UK, said:

“The automotive sector will welcome the Chancellor’s announcement of £390 million to go to future transport technology, including:

  • £100 million investment in testing infrastructure for driverless cars
  • £80 million to install more charging points for ultra-low emission vehicles.

“The UK already has Europe’s largest network of rapid charge points, so this additional spending will reinforce the UK’s leadership in this area. We can now expect to see the number of electric vehicle charging locations to exceed traditional gasoline refuelling stations by the end of the decade. This arrives just in time for the anticipated acceleration of mass-market electric vehicles in the UK, which will really pick up pace around the same time.

“The UK has also established a strong driverless car testing programme underpinned by government funding and flexible regulation. Today’s announcement of a further boost to the testing infrastructure of driverless cars should help to keep the UK as one of the leading European countries to develop driverless cars.”

-Ends-


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www.kpmg.com/uk/autumnstatement


For further information please contact:

Jo Chileshe, KPMG Corporate Communications

T: +44 (0)121 232 3343

M: +44 (0)7919 211 803

E: jo.chileshe@kpmg.co.uk

KPMG Press office 

T: +44 (0) 207 694 8773


About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.  

Autumn Statement 2016

The Autumn Statement took place on 23 November. KPMG's coverage is available from this hub.

 
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