The Chief Secretary to the Treasury, Danny Alexander MP, has announced a £10 million prize to help incentivise the development of the next generation of ultra-low emission vehicles.
The prize aims to further encourage commercial and investment opportunities in the UK’s automotive industry. It will be awarded to technological improvements that allow ultra-low emission vehicles to function as everyday means of transport, travelling similar distances to internal combustion engine vehicles.
Starting in late 2013, the competition will be open to businesses, universities and engineering experts and will be judged by a panel of experts on an ongoing basis. The prize will be run by the Office for Low Emission Vehicle and the Technology Strategy Board as well as a number of partners from industry and academia.
The Chief Secretary to the Treasury, Danny Alexander MP said, “We want more companies to invest in cutting-edge research so that Britain is the global leader in ultra-low emission vehicles, and that is why we have announced a £10 million prize for innovations which will enable the next generation of low emissions vehicles to run as long as and as far as conventionally fuelled cars.”
Earlier in July, government announced the creation of an Advanced Propulsion Centre, which will help to develop the ultra-low emission vehicle supply chain.
Government has already committed £400 million in vehicle subsidies to help encourage motorists to buy ultra-low emission vehicles. In an announcement earlier this month, ministers confirmed an additional £500 million that will promote the uptake and development of ultra-low carbon vehicles through to 2020.
