The UK government has announced £73.5 million ($91.3 million) of investment into the automotive industry to develop green technologies and safeguard more than 14,000 jobs.
Business minister Nadhim Zahawi said the money will be shared among 10 projects in the UK to develop cutting-edge electric vehicle technology, such as the next generation of electric taxis, cars and vans, recyclable batteries, lightweight components, and advanced electrical systems.
Some of the companies chosen for investment include Jaguar Land Rover, BMW Motorsport, Ford Technologies and the London Electric Vehicle Company.
Projects were selected by the country’s Advanced Propulsion Centre, which aims to make the UK a ‘centre of excellence’ for the research and development of low emission vehicle technology.
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.”
Transport minister Rachel Maclean said: “As we look to kickstart our green transport recovery, new technologies and cleaner fuels are going to play an even greater role in achieving our aim of a greener and more prosperous economy.
“From recyclable batteries to state-of-the-art motors, not only will this funding create thousands of jobs, it will also bring us one step closer to achieving our net zero target within 30 years.”
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