APC Welcomes Nearly £500 Million Investment to Accelerate the Transition to Zero Emission Vehicles
- Prime Minister announces next instalment of funding to boost electrification of UK automotive supply chain
- Investment provides capital support through the Automotive Transformation Fund
The Advanced Propulsion Centre (APC) today welcomed the announcement by the Prime Minister of nearly £500 million commitment over the next four years to accelerate the road to zero emission vehicles.
The APC will be supporting the funding through the allocation to projects and programmes identified by the Automotive Transformation Fund (ATF) to unlock the UK’s potential access to an initial £24 billion share of a fast growing global market for electrification of passenger car technology.
Ian Constance Chief Executive of the APC said: ‘Today’s announcement of nearly £500 million by the Prime Minister is the next milestone on the road to zero set-out when the Automotive Transformation Fund was established in 2019.
‘The ATF will put the UK at the centre of the global transition to zero emission vehicles and as we announced earlier this month, 31 feasibility studies have been funded to pave the way for the investment announced today.
‘Many of the UK and international organisations who will lead the electrification revolution are attending this year’s CENEX-LCV virtual event and this news provides renewed energy as we accelerate progress on the road to zero emissions together.’