£73.5 million to boost green economic recovery in automotive sector
Britain’s automotive industry is set to benefit from a £73.5 million government investment to develop green technologies and safeguard jobs, Business Minister Nadhim Zahawi announced today.
Ten projects across the UK will receive a share of this new investment to develop cutting-edge technology for the next generation of electric taxis, cars and vans – including recyclable batteries, advanced electrical systems and ultra-lightweight components.
This funding will contribute to the automotive sector’s recovery from the coronavirus pandemic by safeguarding more than 14,000 UK research and manufacturing jobs. It will also enable the manufacture of a greater volume of low emission cars, commercial vehicles and components right here in the UK.
Business Minister Nadhim Zahawi said:
Whether it’s researching future battery design or creating a lightweight version of the Ford Transit, companies in every part of the United Kingdom are leading the world in advanced automotive technology.
Not only will this funding ensure automotive companies can play their part in keeping us on the path to net zero emissions by 2050, it will also support thousands of jobs and be a welcome step towards the industry’s economic recovery.
The funding boost will aid the development of highly efficient and ultra-lightweight components and help drive the automotive industry further away from its reliance on fossil fuel technologies.
Companies set to benefit include Ford Technologies, BMW Motorsport, Jaguar Land Rover and the London Electric Vehicle Company, manufacturer of electric taxis. The move towards electric transport will be vital in helping the UK meet its target of net zero carbon emissions by 2050, while growing the economy and creating jobs in greener industries.
The successful projects were chosen by the Advanced Propulsion Centre (APC), which seeks to maintain the UK’s position as a centre of excellence for the research and development of low carbon vehicle technology.
