UK Government Invests £80m To Develop Next-gen Electric Vehicles & Planes
The development of the next generation of electric vehicles, including electric airplanes, will be partly funded by an £80 million investment from the UK government. Leading the development of these new technologies – known as Power Electronics, Electric Machines, and Drives (PEMD) – will be industry and academia. The rest of the funding will come from the support of over 130 organizations, collectively offering global reserves of as much as £600 billion.
All of the funding from the government and organizations will go towards the development of PEMD, a family of technologies that sit at the core of many electric and hybrid engines. PEMD is a set of cross-sectoral products used to change fossil fuel-based systems into electric systems. They are devices powered by battery or some other stable electrical sources.
The money will also help proof of concept programs and industrialization centers that will provide “a focal point for the business community”. The Government hopes it will simultaneously streamline high volume supply chains.
Business and Energy Secretary Greg Clark said:
Companies like Jaguar and Lotus are choosing the UK to develop their new electric vehicles, while EasyJet and Rolls-Royce have chosen the UK to develop their hybrid planes – all recognizing and investing in the expertise and talents of the UK. Building on our Faraday Battery Challenge and Battery Industrialization Centre this co-investment from government and industry is a key part of our modern Industrial Strategy, building on our strengths and helping to create the next generation of net zero technologies that will transform entire industries. The UK leads the world on combatting climate change and is the first major economy to legislate for net zero.
This investment is part of the Industrial Strategy Future of Mobility Grand Challenge which has a number of targets to achieve by 2040, such as eliminating diesel rolling stock from UK railways, accelerating the delivery of electric and hybrid aircraft and delivering zero carbon road transport.
Professor Sir Mark Walport, chief executive of UK Research and Innovation, said:
Driving the Electric Revolution will strengthen the UK’s capability to deliver next generation electric vehicles, hybrid aircraft and smart grids. It will ensure these industries, both large and small, are rooted here in the UK attracting inward investment into our manufacturing base.
Dr. Will Drury from Ricardo said:
Underpinning the drive to reduce our carbon footprint and decrease global reliance on fossil fuels is electrification. This is occurring across every sector of society from energy generation for our homes to how we move about. Driving Electric Revolution challenge will underpin the growth of the UK supply chain critical to enlarge GDP and jobs in Power Electronics, Machines and Drives; an area in which the UK already has global recognition.
The purpose of this collaboration is to enable investment and provide opportunities for industries in the UK to move away from polluting fossil fuels and transition towards achieving the net-zero target for 2050. The government says that the investment will help ensure the nation 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. The goal of the funding is to fill identified gaps in the supply chain for PEMD, develop industrialization centers for the next generation of PEMD products and accelerate the development of UK supply chains.
The above article is from Intelligent Living, Visit Intelligent Living for many more great articles
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