British EV tech start-up wins 800million to develop self-driving AI cars | Personal Finance | Finance [Video]

A UK-based techonology startup is set to receive more than £800m of investment to develop AI powered electric vehicles.

Startup Wayve will receive the $1.05bn investment from Japan’s SoftBank as well as Nvidia and Microsoft.

The funding was secured by the startup so it could develop a system that will allow automated vehicles to learn from real-world stimulae and simulations and then adapt accordingly.

This includes situations beyond the expected, such as irrational driving or sudden veering by other cars on the road.

The system is called “embodied AI” technology and will be the first of its kind in the UK.

Alex Kendall, a co-founder and the chief executive of Wayve, said: “At Wayve, our vision is to develop autonomous technology that not only becomes a reality in millions of vehicles but also earns people’s trust by seamlessly integrating into their everyday lives to unlock extraordinary value.

“This significant funding milestone highlights …