UK automotive sector will receive £73.5 million governmental investment for advanced technology to cut carbon dioxide emissions.
Companies set to benefit include Ford Technologies for a project using lightweight materials in vehicle manufacturing, BMW Motorsport for cost-efficient powertrains, Jaguar Land Rover for a hydrogen fuel cell vehicle and the London Electric Vehicle Company, manufacturer of electric taxis.
The grants aim to contribute to the recovery of the automotive sector and the UK economy, safeguarding 14,000 jobs.
Business Minister Nadhim Zahawi said: “Whether it’s researching future battery design or creating a lightweight version of the Ford Transit, companies in every part of the United Kingdom are leading the world in advanced automotive technology.”
Transport Minister Rachel Maclean commented: “From recyclable batteries to state-of-the-art motors, not only will this funding create thousands of jobs, it will also bring us one step closer to achieving our net zero target within 30 years.”