Home / Metal News / Minor Metals / UK invests 687 million yuan to promote research and development of electric vehicle technology
UK invests 687 million yuan to promote research and development of electric vehicle technology
Jul 24,2019 09:56CST
Source:Gaishi car
The content below was translated by Tencent automatically for reference.

SMM News: recently, the British government announced that it will invest 80 million pounds (687 million yuan) in order to promote the research and development and promotion of a new generation of electric vehicle technology. The money will help reduce carbon emissions in a number of industries, including transport, construction and energy.

It is reported that the funding comes from the Industrial Strategy Future of Mobility Grand Challenge (Industrial Strategic Challenge Program, created by the UK Research and Innovation Agency, which aims to promote the development of areas including clean energy, driverless and new materials by investing 4.7 billion pounds (40.34 billion yuan) over four years.

Mark Walport, chief executive of the UK Research and Innovation Agency, said in a statement on Monday that the investment of government money should ensure that all industries in the UK can take root in the UK and play a role in attracting internal and external investment. It is reported that due to the impact of Brexit, investment in the British auto industry has also been hit, in which Honda has decided to close its plant in Swindon in 2021, Nissan has abandoned plans to produce the next generation of X-Trail at the Sunderland plant in the UK.

From the point of view of the British government, its strategy is similar to that of Germany in electric vehicles, which is to use government investment to increase the attractiveness of the domestic automobile industry to internal and external investment. Last November, the German government announced that it would invest 1 billion euros to support the development of a new generation of solid-state batteries. The plan is aimed at reducing the dependence of German carmakers on Asian suppliers such as China / South Korea.

The British government is under similar pressure. In February, the British media published an article saying that China had taken the lead in the global electric car race, but the UK had lost power in an article entitled "Britain is losing power in the competition for electric vehicles". British media said that despite the British government's efforts to use cash to promote research and development projects for electric and driverless cars, the investment was minimal compared with the Chinese government.

"Click to enter the registration page

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business


cobalt lithium
new energy

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news