£10m to drive EV battery production

The government is seeking companies to develop batteries for electric vehicles (EVs). Innovate UK and the Office for Low Emission Vehicles (OLEVs) are providing up to £10 million to help […]

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By Priyanka Shrestha

The government is seeking companies to develop batteries for electric vehicles (EVs).

Innovate UK and the Office for Low Emission Vehicles (OLEVs) are providing up to £10 million to help a consortium develop a pilot line for the technology that could later be scaled up for commercial production.

The consortium should include a research organisation, at least two vehicle manufacturers, at least one industrial supply chain partner and at least one SME.

Small businesses could receive up to 70% of their eligible costs, medium-sized businesses up to 60% and large businesses up to 50%.

Total project costs are expected to range from £15 million to £20 million and last 12 to 18 months.

The global market for EV batteries is estimated to be around $25 billion (£16.8bn) by the end of the decade.

The competition opens on 20th April 2015.