EVs research, development win share of £15m fund

Electric vehicles (EVs) research and development projects have been granted a share of a £15 million fund. Business and Energy Secretary Greg Clark made the announcement today, building on the […]

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By Priyanka Shrestha

Electric vehicles (EVs) research and development projects have been granted a share of a £15 million fund.

Business and Energy Secretary Greg Clark made the announcement today, building on the launch of last week’s Industrial Strategy green paper.

The funding will support 125 projects covering a wide range of themes, including rapid charging for EVs and drone technology.

Each concept is designed to help businesses with £15 million in grants to business-led, commercial ideas for research and development projects.

Mr Clark said: “Research and innovation has a proven track record of helping drive our economy, while preparing us for the future and creating new products, services and better ways of doing business. For these reasons, science, research and innovation are at the heart of our Industrial Strategy.”

The government has also announced a £492 million funding boost for London and the South East and £151 million for East of England through the Local Growth Fund.

The investment is expected to create 237,000 jobs.

A majority of the drivers in the UK are said to be put off EVs due to high insurance costs.