UK Commits $208 mn for Electric, Hybrid Vehicles

The fund is to be used for the research and development of electric and hydrogen fuel cell vehicles as well as battery technology in UK.

Speaking at the Zero Emission Vehicle (ZEV) Summit in Birmingham, PM Theresa May has granted a package of USD 208 million for the research and development of electric and hydrogen fuel cell vehicles as well as battery technology.

Moreover, 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”.

UK  believes that there is lot more scope for developing hybrid vehicles and reducing the carbon footprint thereby.

Further, the PM said, “That is why I have set this country an ambitious mission. To put the UK at the forefront 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.”

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

Source: iNews