The government has announced a £246m investment in battery technology for electric vehicles as it aims to “establish the UK as world leader” in the sector.
The investment, which is part of the government’s broader industrial strategy, will begin with the launch of a £45m ‘Battery Institute’ competition, which will ultimately see the formation of a centre for battery research to make technology more accessible and affordable.
It will be the first phrase of a four-year investment, known as the Faraday Challenge, which will deliver a programme of competitions aiming to “boost both the research and development of expertise in battery technology”, according to the Department for Business, Energy and Industrial Strategy (BEIS).
Once the Battery Institute has been created, the most promising research created by it will be moved closer to market through industrial collaborations, led by Innovate UK, the government’s innovation agency.
Then, the Advanced Propulsion Centre – described as a centre of excellence for low carbon propulsion development and production - will work with the automotive sector to identify the best proposition for a new open access National Battery Manufacturing Development facility.
Talking about the investment, Business Secretary Clark said: "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."
The Government and Ofgem have also set out a plan today to ensure the UK’s energy system is prepared for the anticipated onslaught of electric vehicles. BEIS commented: “With over a quarter of the UK’s electricity being generated through renewables and the costs of technologies like battery storage rapidly decreasing, there are significant opportunities to secure economic benefits for businesses and households across the country.”