May unveils £106m vehicle innovation fund

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Prime minister Theresa May has unveiled a £106 million funding package for projects developing innovative green battery, vehicle and refuelling technology.

Speaking at the Zero Emission Vehicle summit in Birmingham, May said the aim is mission to make UK a world leader in low emission technology.

She said: “I want to see Britain, once again, leading from the front and working with industries and countries around the world to spearhead change.

“That is why I have set this country an ambitious mission. To put the UK at the forefront of the design and manufacturing of zero-emission vehicles, and for all new cars and vans to be, effectively, zero-emission by 2040.

“Already, we are taking significant strides forward. Our electric UK-manufactured cars account for one-in-five sold in Europe. Our batteries are among the best in the world.

“And our Road to Zero Strategy is the most comprehensive plan globally – mapping out, in detail, how we will reach our target for all new cars and vans to be, effectively, zero-emission by 2040 – and for every car and van to be zero-emission by 2050.

“Today we have provided over £100 million of funding for innovators in ultra-low emission vehicles and hydrogen technology. With a further £500 million of investment from key industries in this sector.”

The work is part of the government’s Future of Mobility Grand Challenge, outlined in its modern Industrial Strategy.

At the summit, the prime minister also hosted an automotive round table with supply-chain companies from Germany, the USA, Japan, China, Spain and India, to explore what more the government and industry can do together to accelerate the development of the zero-emissions market and to highlight the UK’s strong offer.

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