Automotive Transformation Fund to Present UK as Ideal Ecosystem for EV Investors

LONDON–(BUSINESS WIRE)–Research by the UK government-backed Advanced Propulsion Centre (APC) details how companies attending this year’s JSAE could benefit from up to 3640bn JPY (24bn GBP) of opportunities within the UK electric vehicle market over the next five years.

With the sale of new petrol and diesel vehicles being phased out in the UK from 2030 the APC – which provides funding, support and insight to help the automotive sector transition towards net-zero – has identified growth opportunities for the global automotive market as a result of this new industrial revolution.

The ‘Strategic opportunities in passenger car electrification’ report breaks down the potential in 12 supply chain areas and will be a key focus at this year’s JSAE 2021 – the leading automotive engineering event held in Yokohama from 26-28 May. Due to the pandemic, this year’s event will be virtual. The Advanced Propulsion Centre will host the UK Pavilion in partnership with the Department for Business, Energy and Industrial Strategy at the virtual event, where visitors will see how the UK Government’s Automotive Transformation Fund (ATF), facilitated by the APC, is supporting businesses looking to invest in the UK automotive supply chain.

The ATF, which launched in July 2020 is a collaboration between the Advanced Propulsion Centre (APC), the Department for Business, Energy and Industrial Strategy, the Department for International Trade and Innovate UK, and sets out to put UK innovation at the centre of the global transition to net-zero emissions.

The ATF can provide support for investment in the key technology areas of batteries, fuel cells, motors, drives and power electronics, working to develop upstream supply chains as well as opportunities around recycling technologies.

The programme has already funded notable projects such as providing over 3,000m JPY (20 million GBP) for feasibility studies into scaling up the industrialisation of low-carbon emission vehicle technologies in the UK, and its associated supply chain.

During this year’s JSAE, the UK Pavilion will showcase the UK as an ideal ecosystem for long-term investors in the rapidly-growing global market for electric vehicles, with exhibitors representing some of the best of Britain’s net-zero carbon technology innovators.

Ian Constance, the APC’s Chief Executive, says: “The UK is driving forward with its low carbon propulsion technology aspirations with the transition to electric vehicles and zero tailpipe emission vehicles by 2030.

“The Advanced Propulsion Centre is at the heart of this evolution and, with our presence at JSAE 2021, we will show how the supportive supply chain that already exists in the UK, can help Japanese businesses develop and manufacture new battery and fuel cell technology and therefore efficiently serve the European market.

“The UK has a long history of collaboration with Japan and businesses have previously secured orders worth up to £1.5 million annually through the UK Pavilion at the JSAE.”

Since 2013, APC has helped to guide significant Research & Development in the UK, and continues to enable the development of a comprehensive, sustainable and competitive electrified automotive UK supply chain.

To find out more about the ATF and the APC visit www.apcuk.co.uk

– ends –

For more information go to apcuk.co.uk or follow us @theapcuk on Twitter and Advanced Propulsion Centre UK on LinkedIn.

Next Post

Nissan, Suzuki and Mitsubishi to halt car production due to chip shortage

Sat May 29 , 2021
The global shortage of semiconductor chips has the auto industry in check, so Nissan, Suzuki and Mitsubishi plan to make fewer cars in June. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! May 24, 2021 4 min read This article was translated from our […]