UK launches ten-year ‘DRIVE35' R&D funding support
The programme – called DRIVE35 – comprises new and improved funding competitions that will support UK businesses. The programme will fund a wide spectrum of projects which help the transition to zero-emission vehicle manufacturing - targeting established high-volume manufacturing and multi-billion-pound gigafactories, all the way to start-ups, prototypes and 'cutting-edge automotive innovation'.
The programme will commit £2 billion in funding to 2030 alongside an additional £500m for research and development to 2035, signalling a ten-year commitment to UK automotive innovation.
The UK government says the funding will provide certainty to the sector, give innovators the confidence to invest in the UK and will support the latest in research and development, unlocking capital investment in zero emission vehicles, batteries and their supply chains.
Business and Trade Secretary Jonathan Reynolds said: 'We're helping British carmakers get to the front of the pack by working hand in hand with investors to build a globally competitive electric vehicle supply chain in the UK as we deliver our Plan for Change.
'We're taking action to back the industry for the future with the biggest set of announcements for the sector in the last decade. This includes securing a landmark trade deal with the US to bring down tariffs for British car manufacturers, measures in our modern Industrial Strategy to lower electricity prices and updating the ZEV mandate, supporting UK manufacturers to safeguard jobs, and secure the future of the sector.'
DRIVE35 will build on previous successes with the Automotive Transformation Fund (ATF) and the Advanced Propulsion Centre UK (APC) R&D competitions, which between them leveraged over £6 billion of investment from the private sector.
Chris Knight, VP, Automotive at NTT DATA UK&I says decade-long funding is exactly what's needed to unlock EV innovation in an industry defined by long product cycles. But he warns that the UK must also lead on supply chain resilience - from energy security, to actively reshoring critical manufacturing.
Knight said: 'The real test of DRIVE35 will be whether it can make the UK an attractive place to invest amid a currently turbulent geopolitical environment and deliver true supply chain security. That means strengthening every layer of the supply chain, from R&D partnerships to energy reliability, as well as improved digital infrastructure to give manufacturers foresight into their supply chain.'
"UK launches ten-year 'DRIVE35' R&D funding support" was originally created and published by Just Auto, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Fehler beim Abrufen der Daten
Melden Sie sich an, um Ihr Portfolio aufzurufen.
Fehler beim Abrufen der Daten
Fehler beim Abrufen der Daten
Fehler beim Abrufen der Daten
Fehler beim Abrufen der Daten
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
7 minutes ago
- Yahoo
The Daily T: Can private schools survive Labour?
Since Labour's controversial 20 per cent VAT on private school fees has taken effect, over 50 private schools have closed, with many more at risk. The policy was meant to raise billions to hire new teachers, but The Daily Telegraph's exclusive analysis reveals it may have the opposite today's episode of The Daily T, Tim Stanley and Cleo Watson speak to Julie Robinson, chief executive of the Independent Schools Council, about how schools are shutting their doors, the impact on SEND pupils, and how the wealthiest families are avoiding the tax altogether by paying fees up why is everyone talking about Sydney Sweeney and… her jeans? The White Lotus star is making headlines after a new American Eagle campaign and revelations that she's a registered Republican - and now even Donald Trump, the US president, is getting involved. Watch episodes of The Daily T here. You can also listen on Spotify, Apple Podcasts, or wherever you get your podcasts. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Solve the daily Crossword
Yahoo
2 hours ago
- Yahoo
Canada to help lumber industry cope with US tariffs, says Carney
OTTAWA, Aug 5 (Reuters) - Canada will provide up to C$1.2 billion to help softwood lumber producers deal with U.S. countervailing and anti-dumping duties, Prime Minister Mark Carney said on Tuesday. Carney, speaking to reporters in the Pacific province of British Columbia, said Ottawa would make up to C$700 million available in loan guarantees and also provide C$500 million to help speed product development and market diversification. (Reuters Ottawa editorial; Keywords: USA TARIFFS/TRUMP CANADA
New York Post
2 hours ago
- New York Post
Jeffery Epstein-linked billionaire pays $37M for former Obama rental home on Martha's Vineyard
A Martha's Vineyard estate once favored by the Obamas as a summer retreat has quietly changed hands for $37 million — $2 million below its May asking price. The buyer is a trust tied to billionaire retail magnate Les Wexner, the longtime head of L Brands and founder of Victoria's Secret, according to the Real Deal. Known as Blue Heron Farm, the 28.5-acre Chilmark property had been off the market for more than a decade, following an extensive transformation under its previous owners, British architect Norman Foster and his wife, Elena Ochoa Foster. 9 The Martha's Vineyard estate once rented by Barack and Michelle Obama as their summer retreat has sold for $37 million. Evan Joseph Studios 9 The home sold to a trust linked to Ohio-based billionaire Les Wexner, founder of L Brands and former close associate of Jeffrey Epstein. The couple bought the estate in 2011 for $22.4 million and overhauled it into a secluded compound blending historic charm with sleek modern amenities. It was listed this spring for $39 million with agents Brian Dougherty and Maggie Gold Seelig of Corcoran, and went under contract just weeks later. The deal closed on July 10, according to public records. 9 Known as Blue Heron Farm, the 28.5-acre waterfront compound hosted the Obamas for three summers starting in 2009. Evan Joseph Studios 9 The Obamas reportedly paid $50,000 a week during their time in the home. Evan Joseph Studios During the Obama presidency, the secluded property served as the family's vacation home for three consecutive summers beginning in 2009. At the time, they were said to have paid roughly $50,000 a week to rent it. The Obamas stopped returning after the Fosters bought the home and ended its rental availability. The estate includes a 7,000-square-foot main residence with a wraparound porch, plus a guesthouse, a design studio, a gym, a tennis court, equestrian facilities and a private dock. 9 After architect Norman Foster and his wife, Elena Ochoa Foster, purchased the property in 2011 for $22.4 million, they renovated and withdrew it from the rental market. Evan Joseph Studios A barn originally constructed in Pennsylvania over 150 years ago now anchors the entry drive. Under Foster's tenure, a new pool house was added, echoing the clean lines of his firm's more urban projects, including London's Gherkin and the new Wembley Stadium. The buyer, according to records, is a trust managed by Matthew Zieger, Wexner's longtime attorney. While Wexner did not comment, the 87-year-old tycoon has deep real estate ties in Ohio, where L Brands is headquartered, and in Jupiter, Fla., where he owns additional property with his wife Abigail. 9 The estate, listed for $39 million in May, features a 7,000-square-foot main home, a guesthouse, a modern pool house, a gym, a tennis court, stables and a relocated 150-year-old Pennsylvania barn. Evan Joseph Studios His name has also resurfaced in recent years due to his decades-long personal and professional relationship with Jeffrey Epstein, who served as his financial adviser until 2007. Though no longer renters, the Obamas remained fond of Blue Heron Farm. According to Foster, the former president once made a lighthearted attempt to reclaim it. In a New Yorker interview, Foster recalled the former president applied 'jokey pressure' to resume the rental arrangement. 'Sadly, no,' Foster told him at the time, politely declining. 9 The Obamas, drawn by the property's privacy and serenity, later bought their own $11.65 million Martha's Vineyard home in 2019 and also maintain residences in Washington, DC, Chicago and reportedly Hawaii. AFP/Getty Images Afterward, the Obamas pivoted to another Martha's Vineyard rental before purchasing their own home on the island in 2019 for $11.65 million — a nine-bedroom, 8.5-bath residence formerly owned by Joe Lockhart, a former White House press secretary. Michelle Obama later joked about the layout on 'The Ellen DeGeneres Show,' saying, 'He got so shortchanged on this whole deal. He doesn't have enough closet space, sorry! He's got the smallest room for his office.' The couple also owns homes in Washington, DC's Kalorama neighborhood and in Chicago's Kenwood, which they bought in 2005. 9 The deal closed July 10, marking a rare high-end transaction in the area and further expanding Wexner's already sprawling real estate portfolio. Evan Joseph Studios 9 Les Wexner. Courtesy Hulu In addition, they are rumored to be connected to a beachfront compound under development in Oahu by longtime friend Marty Nesbitt. One of three homes on the $8.1 million site is believed to be intended for the Obamas. For the Fosters, parting ways with Blue Heron Farm marks the end of a deeply personal project. A statement from the listing described it as 'a historic estate with notable farming roots' that had been 'meticulously updated and modernized … with significant investments made in timeless renovations, extensive foliage planting and build-out for new amenities.' But for the Obamas, its draw was more emotional. In a previous statement, Dougherty and Gold Seelig explained, the family initially chose the property 'for its incredible privacy, serenity and significance.'
