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The government has announced investment totalling £80 million to develop the next generation of electric vehicles (EVs) and hybrid aircrafts.
Development of these new technologies – known as Power Electronics. Electric Machines and Drives (PEMD) – will be led by industry and academia and supported by more than 130 organisations. collectively offering global reserves of as much as £600 billion.
PEMD is a set of cross-sectoral products used to change fossil fuel-based systems into electric systems. powered by battery or some other stable electrical sources.
The government says this collaboration will enable investment and provide opportunities for industries in the UK to move away from polluting fossil fuels and transition towards achieving the net zero target for 2050.
It adds the investment will help ensure the nation is able to supply products both in the UK and abroad. to help cut carbon emissions from a range of industries including transport. energy. agriculture and construction.
The funding aims to fill identified gaps in the supply chain for PEMD. develop industrialisation centres for the next generation of PEMD products and accelerate the development of UK supply chains.
Business and Energy Secretary Greg Clark said: Companies like Jaguar and Lotus are choosing the UK to develop their new electric vehicles. while easyJet and Rolls-Royce have chosen the UK to develop their hybrid planes – all recognising and investing in the expertise and talents of the UK.
Building on our Faraday Battery Challenge and Battery Industrialisation Centre this co-investment from government and industry is a key part of our modern Industrial Strategy. building on our strengths and helping to create the next generation of net zero technologies that will transform entire industries.
The UK leads the world on combatting climate change and is the first major economy to legislate for net zero.
