Philip Hammond, the transport secretary, has announced £24m worth of funding for six projects designed to reduce transport CO2 emissions.
The projects focus on innovations such as range extender technology, lightweight composite materials, energy recovery systems and a review of the efficiency of catalyst formulations. The total costs for all six projects stands at just under £52m.
It is hoped the technology developed in the projects will help vehicle manufactures stay 'ahead of the curve' when trying to meet future emissions’ regulations.
The projects are run by six consortia made up of companies such as Jaguar Land Rover, Ford, Lotus, Axeon, Mira Ltd., Nissan, Xtrac and BP, and universities including Liverpool and Imperial College London.
The consortia secured the funding through a competition run by the Technology Strategy Board in partnership with the Department for Business, Innovation and Skills and the Office for Low Emission Vehicles.
The Technology Strategy Board says that the projects have a “focus on developing the supply chain” and will work “alongside small to medium sized enterprises, providing support and a potential route to a growing market”.
Phillip Hammond said: “These projects represent cutting edge technology which has the potential to transform the way we travel in a way that will stimulate a vital and growing market.
“In short, this is investment that will deliver measurable economic benefits, as well as tangible environmental ones.”