The UK government will fund automotive start-ups’ research and development projects in a bid to save them from the “valley of death” between inventing a new product and putting it into production.
The new Scale Up scheme – to be announced by industry minister Sarah Jones later today – will provide grants to companies seeking to set up production lines.
It will help them to develop factories as well as production and testing methods, ensuring they meet business requirements and industrial standards.
Its creation comes after several prominent automotive start-ups collapsed in the crucial phase before industrialisation, including electric van maker Arrival, motor manufacturer Saietta and electromod maker Charge Cars (which has since been rescued by a consortium of unnamed investors).
