Economic uplift helping driverless vehicle industry forge ahead

Australia’s driverless vehicle industry says it’s emerging from the COVID-19 crisis with growing business confidence to create more jobs and invest more money.

An economic uplift survey conducted by the Australia and New Zealand Driverless Vehicle Initiative (ADVI) has found that 84% of businesses surveyed within the industry expected to hire more workers, or keep the same levels of employment post COVID-19.
This was despite 87% of industry respondents saying they had been adversely affected by COVID-19 during 2020.

But all businesses said they had fully or somewhat recovered from COVID-19’s impact. In fact, 50% intend to invest more money in the driverless vehicle industry over the next 12 months. 

One-sixth say they will invest more than $1m in the next financial year.

The survey, which ADVI conducts annually polling companies involved with driverless vehicles, points to growing confidence in the industry despite the uncertainty facing many businesses in the COVID-19 era.

ADVI Executive Director Rita Excell said the industry had the potential to provide much needed stimulation to the Australian economy, and help the nation become a world leader in the driverless vehicle space.

“Business confidence is high in this sector. Our members are telling us that they are employing people and growing investment in their businesses to support the driverless vehicle sector,” Ms Excell said.

“Responses received indicate that activity is happening across every state in Australia, and 50% of this investment is self-funded with the balance coming from industry and government grants.”

ADVI – the peak body for the driverless vehicle sector in Australia – has conducted the industry survey of its partners yearly since 2018.

More news in our June 2021 Issue here.