Chancellor George Osborne announced, in the 2015 Autumn Budget Statement, that the Government will continue to support Automotive Industry by securing long term investment for the sector.
The APC will continue with its current 10 year business plan to facilitate the £1bn of industry and Government co-investment to enhance the collaboration between industry, academia, innovators and producers to revolutionise the development of low carbon propulsion technology.
Ian Constance, Chief Executive of the Advanced Propulsion Centre said:
“I am delighted that the Government has continued to show its support for the UK automotive industry which will encourage an increase in productivity, advanced technology jobs, innovation and the development of low carbon technology. This is crucial to underpin the growth of the UK low carbon economy.”
Garry Wilson, Director – Business Development, Advanced Propulsion Centre said:
“The news is fantastic for the automotive industry and the Advanced Propulsion Centre is proud to be a part of the Government’s ongoing commitment. The secured funding will be essential in securing sustainable opportunities for the UK supply chain in low carbon propulsion technologies.
Jon Beasley, Director – Projects and Technology, Advanced Propulsion Centre added:
“We are already recording evidence of positive impacts from this co-investment from Government and Industry through projects such as the GKN Gyrodrive Project.”
” In securing this funding, the APC will be able to facilitate more collaborative partnerships which in turn will create even more positive impacts in the automotive industry and supply chain”
To date, the APC has invested in 10 major low carbon propulsion projects worth more than £174 million which will secure or create more than 4,500 jobs in the UK and reduce CO2 emissions by more than 12 million tonnes, equivalent to the CO2 emissions from 630,000 new cars, every year, for the next 12 years.
This funding from the government will allow the APC to continue this work and help turn the UK into a centre of excellence for low carbon technology.