£89m funding boost for innovative electric vehicle initiatives

author: FutureCar Staff    

The government has announced the allocation of £89m in funding for 20 innovative green transport technology projects. These projects aim to strengthen the UK's electric vehicle supply chain, develop zero-emission off-road vehicles, and enhance battery performance.

The funding has been distributed through four different innovation funding competitions and is expected to safeguard over 4,700 jobs while reducing emissions by nearly 65 million tonnes over the next decade.

The funding package consists of four collaborative R&D projects, five scale-up projects, and seven feasibility studies. These initiatives will assess the readiness of businesses in the automotive sector for growth and prepare projects for large-scale manufacturing facilities in the UK.

The Advanced Propulsion Centre UK (APC) is responsible for administering the funding, with £45.2m provided by the government and an additional £42.7m committed by the automotive industry.

Minister for Industry and Economic Security Nusrat Ghani stated, "Together with industry, we're providing a huge £89m of funding to drive 20 groundbreaking net zero tech projects which will help grow the economy and create UK jobs in the industries of the future."

The supported projects cover a wide range of initiatives, including Aston Martin's development of a luxury battery electric vehicle platform and Perkins' work on a hydrogen-hybrid integrated power system for off-road vehicles.

Ian Constance, chief executive at the APC, expressed pride in the impact the organization has made over the past 10 years. He highlighted the diverse set of original equipment manufacturers (OEMs) and suppliers receiving funding, which demonstrates the strength of the UK automotive industry.

The funding includes £67m for collaborative R&D projects, £11.3m for projects funded through the SuRV competition and the APC's Automotive Transformation Fund (ATF) feasibility studies competition, and £1.1m for projects supported by the Niche Vehicle Network (NVN) Production Readiness Competition.

Labour has also made an announcement on the same day, stating that if elected, it would reverse the government's plan to delay the ban on the sale of new internal combustion engine cars and vans from 2030 to 2035. Shadow Business Secretary Jonathan Reynolds argued that restoring the original 2030 target date would provide clarity to the auto industry and encourage investment in the EV supply chain.

Labour's sectoral plan for the auto industry, to be revealed later, will include a commitment to co-fund new battery gigafactories, expedite planning processes, and establish binding targets for local authorities to create EV charging infrastructure.

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FutureCar Staff