Up to £100m of new funding now available for companies.
Business Secretary officially opens £1bn Advanced Propulsion Centre at the University of Warwick.
Business Secretary Vince Cable has today announced a further £32 million for two new projects to research manufacturing technology for electric motors and develop cleaner internal combustion engines during a visit to officially open the Advanced Propulsion Centre (APC) headquarters at the University of Warwick.
The two new projects will be led by Jaguar Land Rover and will safeguard 2,500 jobs, showing further commitment by the government to turn low carbon propulsion technology into products developed in the UK.
The APC projects committed so far will reduce CO2 emissions equivalent to the output of 250,000 cars per year over the next decade.
The Business Secretary will also announce today that a further £100 million funding round has opened for businesses as well as a new programme to support small businesses.
Business Secretary Vince Cable said: “Green technology will drive the cars of the future and UK designers and manufacturers must continue to be leading innovators in this field. That’s why we’ve collaborated with industry to provide £1billion joint investment in the Advanced Propulsion Centre – one of the driving forces behind our automotive industrial strategy.
“The APC will be the hub for projects as diverse as using motorsport braking systems in buses, and streamlining the production of electric motors. It’s these kind of initiatives that will enable our automotive sector to raise the bar in innovation, give businesses the confidence to invest and create high skilled jobs.”
Speaking at the opening of the APC Hub at the University of Warwick, Chief Executive Tony Pixton said: “The Advanced Propulsion Centre is now active as an enabler for low carbon propulsion development and production in the UK. Today’s news confirms we are on track to support and create more than 30,000 UK jobs over the next decade, cutting CO2 emissions and driving exports.”
The APC will help forge partnerships between those who have good ideas and those who can bring them to market. The services provided by the APC enable projects which provide profitable growth and sustainable opportunities for the partners involved and contribute to the UK’s economic prosperity.