The UK is a world leader in the automotive industry and it a massive employer across the UK including in South Derbyshire. I am pleased to see £73.5 million being invested to protect jobs and support green technology. This investment will help save around 14,000 jobs and help the automotive industry and UK economy recover after the coronavirus.
This investment will not only help protect jobs but help develop cutting-edge technology for the next generation of electric cars and vans. This can include research in recyclable batteries, and state-of-the-art motors for electric taxis, cars and vans. By investing in green technology it will help us to reach the target of net zero emissions by 2050.
10 projects have been selected, 4 of which will develop electrical solutions as more vehicles begin to use this technology, whilst others look at highly efficient and ultra-lightweight components. All of this will provide a significant contribution in cutting carbon emissions.
I believe it is important that we invest to allow us to develop research and move away from our reliance on fossil fuels. This investment will create jobs, support the economy and create a greener future for the next generation.