The UK government plans to invest 56 million pounds to boost the commercialization of low-CO2 vehicle technologies.
The Technology Strategy Board announced that more than 27 million pounds coming from public funding and 29 million pounds private sector money will go to 17 r&d projects led by auto makers such as Jaguar Land Rover, Ford, and Nissan.
“Accelerating the commercialization of low-carbon vehicle technologies will help to achieve our challenging climate change targets as well as creating new jobs, and increasing opportunities for UK businesses on the world stage,” Transport Minister Norman Baker said.
According to European Union Commission data the road transport sector’s emissions are rising really fast, between 1990 and 2008 reaching an increase of 26%. As car makers can face drastic fines if they don’t achieve the requested CO2 emissions targets, they are under continuous pressure to reduce vehicles’ emissions.
At the beginning of this month, the EU Commission presented the plans to tighten CO2 emission limits on new cars, but the proposal has to pass a thorough negotiation process before becoming law. Currently auto makers are trying their best to reduce emissions on conventional-fueled cars and manufacture more electric vehicles and hybrids.