2015 was a fantastic year for the automotive industry in the UK and 2016 has already started off on a great foot with new funding announced for a variety of projects. The Government has made a £74 million commitment to the sector to help promote the development of low carbon technologies. It is estimated that the funds will create 851 new automotive jobs, safeguard many existing ones and ultimately reduce CO2 emissions by 4.3 million tonnes.
The funds will be offered to five different projects to support the work they are doing to reduce carbon emissions and protect the environment. Green technologies are essential to the motor industry and there is plenty of competition to develop new, cutting edge techniques and materials. It is encouraging to see the Government continue to offer their backing to the industry.
The largest project to receive funding is a consortium led by the London Taxi Company. They have been researching and conducting extensive development in the powertrain field to create zero-emission hybrid engines. They will benefit from £46.5 million of the funds.
The second largest project is another consortium but is this time being led by Jaguar Land Rover. They have been researching advanced combustion to help make engines more efficient and less harmful to the environment. Additionally they are looking at boosting systems like turbochargers to see how they can be used alongside cleaner engines. They will receive £13.1 million of the funding.
Morgan Motor Group, the celebrated British brand, is also leading a project to explore powertrain development for their future vehicles. They will receive £6 million to explore greener technologies that will provide improved fuel consumption and lower carbon emissions.
AGM Batteries Ltd is currently exploring developments in battery packs. They are looking at ways to improve the performance in order to provide power savings and carbon reductions. The announcement that they will receive £5.4 million of funding will be well received and helps to show the continued support for electric and hybrid vehicles.
The final project is very specific. Parker Hannifin is leading research and development to improve the efficiency of electric forklifts. The work will lead to improvements in fuel consumption and reduced emissions too.
As you can see the motor industry in the UK is very healthy and continues to lead the way in R&D. It will be interesting to see what else 2016 has in store for the sector.