UK Government adds £350 million to Automotive Transformation Fund
The Advanced Propulsion Centre welcomes the news that the UK government is committing an additional £350 million to grow UK industry through its Automotive Transformation Fund (ATF). The announcement came within the new Net Zero Strategy published by the Department for Business, Energy & Industrial Strategy titled: Build Back Greener.
The ATF is a funding programme designed to support strategically important capital and R&D investment projects that help industrialise the electrified automotive supply chain at scale in the UK.
Managed by the Advanced Propulsion Centre (APC) and working with closely with organisations and government, the ATF provides customised support for inward investors.
The announcement today means that work to transition the automotive industry towards zero-emission technology can continue at pace.
This follows recent boosts to the sector, including high-profile projects such as yesterday’s announcement by Ford investing in its Merseyside transmission plant to make e-drives and the expansion of Nissan’s facility in Sunderland working with Envision AESC to create a battery gigafactory.
Julian Hetherington, Automotive Transformation Director at the Advanced Propulsion Centre said:
I am delighted that this further £350m of government funding will accelerate progress towards zero carbon footprint in manufacturing in the UK. By tapping into the UK’s expertise and innovation, green jobs are created and safeguarded, and emissions are lowered. This further tranche of capital funding will unlock significant manufacturing capacity investment across these vital technologies delivering on the net-zero commitment.
Government funding via the APC and ATF unlocks larger investment coming from industry. Ahead of the major UN climate conference COP26 hosted in Glasgow this is another important step to build back greener and decarbonise one of the most critical sectors for meeting climate change targets