This is the first in a rolling series of intended deals with the sector, which will grow the partnership between government and industry, boost investment in emerging technology across the sector and establish the UK’s leadership in meeting the Future Mobility and Clean Growth Grand Challenges.
Key elements of the Automotive Sector Deal:
- The Deal builds on the Faraday Battery Challenge, where government is investing £246m to make the UK a world leader in the design, development and manufacture of batteries for the electrification of vehicles.
- Government is investing £250 million of public funding, matched by industry, to position the UK as a global leader in connected and autonomous vehicles development and deployment.
- Sector Deal includes up to £32m of new joint funding (subject to business case) for an industry-led supply chain competitiveness programme to help grow the UK supply chain and make it internationally competitive.
Click here to view the full Automotive Sector Deal