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Self-driving cars to deliver €17 trillion boost to Europe's economy

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Staff Writer | December 2, 2016
Driverless cars could deliver a €17 trillion injection into the European economy by 2050.
Driverless car
Technology   Fewer car accidents and lower stress
Fully ‘autonomous vehicles’ are expected to be providing ‘hands-off’ door-to-door transport on the road within the decade. A quarter of those planning to buy a car in five or more years would consider an autonomous car.

Improved mobility for everyone was voted one of the biggest benefits, followed by a reduction in accidents caused by human error and the removal of unsafe or bad drivers from the road. Fewer car accidents and lower stress levels were rated equally as the top health benefits.

Paul Willcox, chairman of Nissan Europe, which carried out the research among 6,000 people in the UK, France, Germany, Spain, Italy and Norway, said: “This independent report highlights that we are in the midst of a social and economic revolution.

“It shows that autonomous technology will have a fundamental impact not just on the automotive industry but across European economies and societies and it suggests that leadership within all levels of government is needed.”

The new independent economic analysis shows that autonomous vehicles will start adding 0.15% to Europe’s annual growth rate in the decades to come.

As a result, the European gross domestic product will, cumulatively, be over 5% higher in the year 2050, by which time autonomous vehicles will have contributed a total of €17tn to GDP.