UK Business Secretary, and President of COP26, Alok Sharma has announced £37 million ($47 million) in new government finance to design, test, and produce electric transport solutions in the country.
Approximately £30 million of the funds will be dedicated to the creation of four “cutting edge centres of excellence” which will conduct research and development (R&D) in the regions of Nottingham, Newport, Sunderland and Strathclyde. The centres will focus their R&D efforts on electric aircraft, ships and cars.
A further £6.7 million ($8.6 million) will be awarded to 14 projects to ensure that final buyers in supply chains, such as large automotive manufacturers, have ready access to components needed in the manufacturing process.
This investment will have applications for electric vehicles, as well as other industries including rail, marine, aerospace and energy – all with the aim of switching away from fossil fuel technologies.
The 14 winning projects will help boost supply chain efficiencies in industries affected by electrification, including automotive, aerospace, energy and rail.
A total of £6.7 million will be shared by the 14 projects, which comprise 38 major businesses from around the UK, including GKN, Jaguar Land Rover and Rolls-Royce.
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Alok Sharma said “The electric revolution is an opportunity for our transport sectors to reduce the dependence on fossil fuels.
“The UK is leading the way in developing cleaner technologies to help us reach our target of zero emissions by 2050 and these new centres will play an important part in that.”
Sharma also announced the winning projects for the government’s Driving the Electric Revolution challenge.
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