The government has revealed an £80m investment to develop the next generation of electric vehicles.
The investment will be made through the Industrial Strategy, which was established to provide support to UK businesses with the aim of creating jobs and increasing the earning power of people with investment in skills, industries and infrastructure.
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The latest investment is designed to help businesses supply products both in the UK and abroad, while cutting carbon emissions across a range of industries. Industry experts and academia from more than 130 organisations will lead the development of the new technologies, known as Power Electronics, Electric Machines and Drives (PEMD).
Business secretary Greg Clark said: “Companies like Jaguar and Lotus are choosing the UK to develop their new electric vehicles, while Easy Jet and Rolls Royce have chosen the UK to develop their hybrid planes – all recognising and investing in the expertise and talents of the UK.
“Building on our Faraday Battery Challenge and Battery Industrialisation Centre this co-investment from Government and industry is a key part of our modern Industrial Strategy, building on our strengths and helping to create the next generation of net zero technologies that will transform entire industries.
“The UK leads the world on combatting climate change and is the first major economy to legislate for net zero.”
The investment is part of the Industrial Strategy Future of Mobility Grand Challenge, which targets the delivery of zero carbon road transport by 2040. The programme also supports clean growth by driving down costs and delivering a volume supply chain necessary to deliver low-carbon technologies – building partnerships between industries.
Mark Walport, chief executive of UK Research and Innovation, added: “Driving the Electric Revolution will strengthen the UK’s capability to deliver next generation electric vehicles, hybrid aircraft and smart grids. It will ensure these industries, both large and small, are rooted here in the UK attracting inward investment into our manufacturing base.”
