The Society of Motor Manufacturers and Traders, the United Kingdom’s automotive trade association, publicized how South Korea and the United Kingdom have agreed to join forces on autonomous and electric cars following the signing of a MoU.
This agreement is expected to mark the beginning of a new era between the 2 nations, making use of the pre-Brexit trade deal with Korea.
Liz Truss, the Secretary of State for International Trade, said: “it will allow businesses like Bentley and Denby to keep trading as they do today, and they will be able to take advantage of the opportunities that Brexit offers.”
The Society of Motor Manufacturers and Traders, and its corresponding Korean associate, the Korea Automobile Manufacturers Association, made it official at 2019’s Frankfurt Motor Show how the two countries will contribute their skills in the effort to generate connected and autonomous vehicles and low/zero emission technology.
The United Kingdom is among the foremost countries around the globe in connected and autonomous cars. The U.K. government is accepting towards the idea of making use of the industry expected, by year 2035, to be valued at £907 billion. The ministers have promised the public self-driving cars by year 2021.
On the other hand, South Korea in among the global leaders when it comes to 5G network coverage which is, hands-down, a principle technology for autonomous cars that will greatly contribute towards making self-driving cars a possibility. South Korea is also among the leaders in the field of EV batteries, together with companies such as Samsung and LG Chem aiding the country’s producers to manufacture conventional electric models.
Because of Brexit and various other international headwinds, U.K. car manufacturing slid down to its least in year 2018.