Electric cars and green transport sees £500m investment
The Government believes the production of ultra low emissions vehicles (ULEV) is a major part of growth both now and for the future.
The investment of £500 million between 2015 and 2020 will create jobs, reduce emissions and set the agenda for the industry, towns and cities, and for motorists, with the aim of helping Britain remain at the forefront of green technology.
Local areas coming up with the most ambitious plans can win a share of £35 million to make the leap to becoming ultra low. Winning cities could, for example, incentivise drivers of green cars by letting them use bus lanes or allowing them to park for free. Additional funding of £50 million will also be available for local areas to invest in cleaner taxis and buses.
The Government also confirmed it will invest £100 million in research and development in ULEV to cement the UK’s position as a leader in the development of these technologies. The UK’s automotive industry has undergone a renaissance in recent years and now has the potential to emerge as a world leader in the development, design and manufacture of green vehicles.
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