March 5 (Renewables Now) - The UK government will provide GBP 36.7 million (USD 47.3m/EUR 42.5m) in funding to back the development and manufacturing of green transportation machines such as electric cars, ships and planes.
The investment plan was announced on Wednesday ahead of the first meeting of a new cabinet committee tasked with tackling climate change. It also comes to support the country’s efforts to reach a net-zero emissions goal by 2050.
About GBP 30 million of the proposed funding will go to establish four research and development (R&D) centres focused on developing electric transportation solutions for the automotive, shipping and air transport sectors. These are among the UK’s most polluting industries.
The R&D facilities will be set up in Newport, Nottingham, Strathclyde and Sunderland. More than 30 partner research and technology organisations, including universities, will be a part of the R&D network.
The funding package also includes GBP 6.7 million for 14 projects that will address the availability of components for the development of electric machines. GKN Aerospace, Jaguar Land Rover and Rolls-Royce are among the 38 businesses that will work to boost supply chain efficiencies in the aerospace, automotive, rail, marine and energy industries.
(GBP 1.0 = USD 1.290/EUR 1.159)