- Government announces £80 million investment in next-generation electric cars and planes through Industrial Strategy
- Collaboration with industry and academia could accelerate development of electric and hybrid aircraft
- Investment comes from modern Industrial Strategy – keeping the UK at the forefront of new vehicle development and tackling climate change
Government today unveiled an £80 million investment to help develop the next generation of electric vehicles – and which could also help develop new hybrid aircraft. The investment – through the modern Industrial Strategy – will help ensure the UK is able to supply products both in the UK and abroad, to help cut carbon emissions from a range of industries including transport, energy, agriculture and construction. Development of these new technologies – known as Power Electronics, Electric Machines and Drives (PEMD) – will be led by industry and academia and supported by over 130 organisations, collectively offering global reserves of as much as £600 billion. This collaboration will mean investment through four key strands to provide opportunities for industries in the UK to move away from fossil fuels, and new electric products. These four strands are:
- Fast Start Fill the Gaps/Proof of Concept Programmes – a project that aims to fill identified gaps in the supply chain for PEMD;
- Industrialisation Centres – aiming for the UK to develop the next generation of PEMD products such as electric vehicles and hybrid aircraft, as well as providing a focal point for the business community;
- High efficiency, high volume supply chains – investing in the UK’s capability to develop the necessary machining tools for new manufacturing techniques; and
- Low volume, high value supply chains – aiming to help just-in-time manufacturers to sustain long-term growth
