Automotive Clockspring Alternative
In the context of this question, the term Clock Spring refers to a loop of wire which connects electronics in the steering wheel to the rest of the car.  Clock Spring is viable, because steering wheel has a limited range of rotation.  The loop might look like a spiral spring found in clocks, ergo the name.  It's not a mechanical spring used for exerting force.

Clock Spring vs. Slip Ring. Slip rings can be found in places where range of rotation is not limited (e.g. helicopter rotor).  Slip rings are subject to condensation, contamination, corrosion, vibration.  A Slip Ring can be less reliable than a loop of wire.  (Air bag is connected through Clock Spring.)  A Slip Ring would be more costly too.