£106M BOOST FOR UK’S EV RESEARCH

Prime Minister Theresa May has announced a £106m finance package to fund an “ambitious mission” for the UK to become a world leader in low-emission technology.

Speaking at the Zero Emission Vehicle (ZEV) Summit in Birmingham Mrs May said the money would be put towards research into electric and hydrogen fuel cell vehicles as well as battery technology.

She told the summit that she wanted Britain to lead from the front on low-emissions technology and work with industries and countries around the world to “spearhead change”.

The Prime Minister said: “That is why I have set this country an ambitious mission.to put theukatt he fore front of the design and manufacturing of zero-emission vehicles, and for all new cars and vans to be, effectively, zero-emission by 2040.

“Already, we are taking significant strides forward. Our electric Uk-manufactured cars account for one in five sold in Europe. Our batteries are among the best in the world.

“And our road to zero strategy is the most comprehensive plan globally–mapping out, in detail, how we will reach our target for all new cars and vans to be, effectively, zero-emission by 2040 – and for every car and van to be zero-emission by 2050.

“Today we have provided over £100 million of funding for innovators in ultra-low emission vehicles and hydrogen technology. With a further £500 million of investment from key industries in this sector.”

Mrs May’s announcement came as luxury car maker Aston martin revealed its new facility at St Athan in Wales would be the centre for its future electrification projects.

Also announced at the summit was a£1m initiative from Lloyds Banking Group to offer motorists a £1,000 contribution to switching to a pure EV.