£10million boost for low carbon vehicle project
A government initiative to accelerate the commercialisation of low carbon vehicle technologies has received an additional £10million in funding from the Office for Low Emission Vehicles.
The investment brings the total amount available to UK businesses to £25m, which will be awarded to sixteen different research projects.
Transport Minister Norman Baker said: "Speeding up the commercialisation of low carbon vehicle technologies will contribute to achieving UK and EU climate change targets, help grow the economy, create high value jobs and provide significant global market opportunities for UK based companies."
"The £25m grant will be delivered through a collaborative R&D competition managed by the Technology Strategy Board, working closely with OLEV. As the Government grants will match-fund investment by the participating businesses, the total value of the research and development projects will be at least £50m."
