UK Motor Industry Gets £73m Cash Injection

Tue 23rd Jun 2020

The UK government has announced a huge cash boost for the ailing automotive industry, with the aim of safeguarding jobs and developing green initiatives.

Business Minister Nadhim Zahawi said this week that the money would go towards a series of projects which research and develop technologies such as electric taxis, recyclable batteries and lightweight parts for vehicles.

It is believed that the cash injection will help save more than 14,000 jobs which are at risk due to the coronavirus-enforced shutdowns - but with the incentive of pushing towards low or zero emission cars.

“Whether it’s researching future battery design or creating a lightweight version of the Ford Transit, companies in every part of the United Kingdom are leading the world in advanced automotive technology,” Zahawi said.

“Not only will this funding ensure automotive companies can play their part in keeping us on the path to net zero emissions by 2050, it will also support thousands of jobs and be a welcome step towards the industry’s economic recovery.”

The companies to receive the investment include Jaguar Land Rover, BMW, Ford and the London Electric Vehicle Company. The successful projects were chosen by the Advanced Propulsion Centre, an organisation which is aiming to make the UK a ‘centre of excellence’ for low carbon vehicle technology.