The UK government and the automotive industry have jointly awarded £89m ($108.47m)in funding to support advanced net-zero technology projects.
Of the £89m, £45.2m of the investment will come from the UK government and £42.7m from the automotive industry.
The funding, which has been awarded through the Advanced Propulsion Centre UK (APC), will aid in the development of new EV battery systems, a new lithium scale-up plant and, hydrogen-powered offroad vehicles, among others.
Specifically, the funding will support four collaborative research and development projects, seven feasibility studies and five scale-up projects.
The scale-up projects are intended to determine whether companies in the UK automotive supply chain are prepared for growth and expansion, while the feasibility studies are intended to support the establishment of large-scale manufacturing facilities in the UK.
In addition to creating more than 4,700 jobs, these initiatives are expected to prevent up to 65 million tonnes of CO₂ emissions.
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Awardees of the investment include Advanced Electric Machines, Altilium, Aston Martin, Greenroc Mining, Helix, Ilika Technologies, Perkins and others.
Furthermore, an £11.3m funding was announced for 12 UK-based projects under the fourth phase of the APC’s Automotive Transformation Fund feasibility studies competition and the second round of the SuRV competition.
UK Minister for Industry and Economic Security Nusrat Ghani said: “Together with industry, we are 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.
“From net-zero tractors to cutting-edge battery projects, we are taking decisive action to back the UK’s innovators and ensure we remain at the forefront of zero-emission vehicle technology.”
APC chief executive Ian Constance said: “We have seen over £1.4bn of investment into automotive projects since the APC was set up, and I am proud of the impact that we have made here in the UK.
“This latest announcement includes a diverse set of OEMs and suppliers that demonstrate the strength of UK automotive. They will further add to our portfolio of innovative projects and continue to drive the UK to deliver on its net zero ambition.”