The British government is reportedly ready to spend £246 million during the upcoming four years on developments of battery technology in a move to keep up with times.
The authorities are aiming to “establish the UK as world leader” in the battery technology sector for electric cars, and the investment is part of the government’s expanded industrial plans. The first move will be the introduction of a £45 million ‘Battery Institute’ competition, which should result in the formation of a dedicated research and development facility for the battery technologies. The overall four-year investment, known as the Faraday Challenge, is set to undergo a panel of competitions aiming to “boost both the research and development of expertise in battery technology”, according to the Department for Business, Energy and Industrial Strategy (BEIS).
With the Battery Institute in place, the research conducted there will be delivered to the market with help from Innovate UK, the government’s innovation agency, set to lead industrial collaborations. After that, the Advanced Propulsion Centre – which is supposed to be a low carbon propulsion development and production research facility – will directly work with the local automotive sector to identify the best proposition that could be established within a new National Battery Manufacturing Development facility. “The work that we do through the Faraday Challenge will – quite literally – power the automotive and energy revolution where, already, the UK is leading the world,” commented Business Secretary Clark.