New £80m investment to drive forward next generation of net zero planes and cars
Government today unveiled an £80m investment to help develop the next generation of electric vehicles – and which could also help develop new hybrid aircraft.
The investment – through the modern Industrial Strategy – will help ensure the UK is able to supply products both in the UK and abroad, to help cut carbon emissions from a range of industries including transport, energy, agriculture and construction.
Development of these new technologies – known as Power Electronics, Electric Machines and Drives (PEMD) – will be led by industry and academia and supported by over 130 organisations, collectively offering global reserves of as much as £600bn.
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.”
This investment is part of the Industrial Strategy Future of Mobility Grand Challenge, transforming the way people work and travel.
Key targets include eliminating diesel rolling stock from UK railways by 2040; accelerating the delivery of electric and hybrid aircraft by 2040; and the delivery of zero carbon road transport by 2040.
The challenge will deliver technologies that will enable the UK’s road, rail, maritime and aviation networks to dramatically reduce emissions.