The Government is continuing to offer support and funding to help companies develop the next generation of low carbon and driverless vehicles in the UK. In total they will be offering £109.7 million of funds. This will be added to the incredible amount of money that businesses themselves are investing.
Two Nottingham based businesses recently learned they would receive funds as part of the investment. Their projects were backed by the Office for Low Emissions Vehicles (OLEV) as they focus on supporting the pursuit of technology that produces less pollution.
One of the firms to be awarded funds is Great British Sports Cars (GBSC). The kit car manufacturer will receive £2.1 million to help them design, build, and test a prototype hybrid electric sports car. This will take place over the next three years with the aim to create a new model with brand new technology.
The early hope is that the new vehicle will be zero emission for short journeys, those under 100 miles. In longer journeys the target is for ultra-low emissions that will have the smallest possible impact on the environment.
Part of the funds will go towards creating five new motor industry jobs at the company. GBSC is based in West Bridgford and currently has a staff of 13. In the next 18 months they hope to expand this, creating the new positions and pushing the company forward.
The second company to receive funding is Romax Technology. They are based at the Jubilee Campus of Nottingham University and focus on developing novel technology for electric motors that will reduce emissions. They will receive £1.87 million in funds to help with their research and development.
The Government continuing to issue funding makes the UK more attractive to companies looking at research and development, particularly in low emissions technology. Other projects receiving funding are being led by companies including Jaguar Land Rover (JLR), Ford Motor Company, and Equipmake. Many of them will also be creating new motor trade jobs as a result.