The government is to invest at least £15 million in projects to accelerate the development of low carbon vehicles.
The main aim of the new investment, which will be announced by business secretary Vince Cable at the Innovate11 conference in London later today, is to get low carbon vehicles onto the UK roads more quickly.
The government says it wants to generate investment in ‘highly innovative, industry-led collaborative research and development projects that will achieve significant cuts in road transport CO2’.
Research and development projects funded by the investment will focus on reducing costs in the supply base and making progress in areas such as energy storage and management, and lightweight vehicle and powertrain structures.
The grants will be available via a funding competition managed by the Technology Strategy Board, in conjunction with the Office for Low Emission Vehicles. The competition is expected to open for proposals in January 2012.