The US Department of Energy has announced more than $58 million (£40.7m) in funding for fuel efficient vehicle technologies.

It will support projects like energy storage, electric drive systems, fuels, lubricants and advanced combustion.

They are expected to help consumers save money and decrease carbon emissions by boosting fuel efficiency of conventional cars and trucks.

The projects will also support the government’s ‘Everywhere Grand Challenge’ to make plug-in electric vehicles as affordable to own and operate as diesel or petrol cars by 2022.

Energy Secretary Ernest Moniz said: “Our work refining cars that are efficient, affordable and can plug into the grid will also help propel us to even greater progress on reducing pollution and boosting energy security. These successful investments in next-generation vehicle technologies are a clear example of the impact innovation can have on industry and consumers.”

Last week ELN spoke to car manufacturers and industry experts in London to find out the state of the UK electric vehicle market.