The UK government has announced that it plans to invest £246 million into battery technology for electric vehicles.
In an effort to lead the world in this sector, the UK will see major investment into battery technology over the next four years, starting with the ‘Faraday Challenge’.
The scheme itself aims to deliver competitions which will “boost both the research and development of battery technology” according to the Department for Business, Energy and Industrial Strategy (BEIS).
The government also plans to erect a Battery Institute which will provide cutting-edge research to industrial bodies’ closer to the automotive market. These collaborations are set to be led by the UK’s innovation agency Innovate UK.
Business Secretary Greg Clarke stated: “The work that we do through the Faraday Challenge will – quite literally – power the automotive and energy revolution where, already, the UK is leading the world."
Clarke also confirmed the launch of the third Connected Autonomous Vehicle research and development competition, making £25 million of funding available for new projects.
Funding will also be available for projects relating to off-road driverless vehicles covering a range of sectors including construction, mining and farming.
