Companies across the country are set to benefit from £23m government investment in developing the latest electric vehicle technology.
Businesses ranging from small designers to major car manufacturers are among the winners of the government’s Faraday Battery Challenge announced by business secretary Greg Clark.
It forms part of the government’s drive to maintain the UK as a world-leader in the latest technologies and emerging markets, through its modern Industrial Strategy.
The Faraday Battery Challenge brings together academics and businesses to accelerate the research needed to develop the latest electric car battery
Business and energy secretary, Greg Clark said: “We are committed to ensuring our world-leading automotive sector can flourish. These exciting new projects will build on the UK’s reputation for excellence, our rich heritage in the auto industry and pave the way for advances towards a cleaner economy.
“We will continue to invest in future car manufacturing, batteries and electrification infrastructure through our modern Industrial Strategy and today’s winners will be crucial in ensuring that the UK leads the world in the global transition to a low carbon economy - one of the greatest industrial opportunities of our time.”
The latest £23m investment forms part of the total £274m that will be awarded to consortiums across the UK through the Faraday Battery Challenge.
Faraday Battery Challenge director Tony Harper said: “Across the three rounds of funding competitions we have now awarded a total of £82.6m to 63 projects.
“This is a massive investment in business-led battery R&D in the UK, supporting innovative technologies and helping to build a UK supply chain that can compete on the global stage.”