The funding will be made available over five years from 2025, according to the UK Treasury. In addition to the £2 billion earmarked for the car industry, £975 million has been allocated for aerospace and £960 million for the clean industry. energy technology. The UK’s first battery strategy will also be announced later this week.
Similar to the US and EU investment programmes, it aims to enable the UK to take advantage of the growth opportunities arising from the transition to a carbon-free energy supply. To that end, the government wants to build on the UK’s “world-leading track record in decarbonisation and its strong proposition for technology deployment”. The UK continues to be at the forefront of reducing emissions, “reducing emissions faster than any other G7 country since 1990” and has a clear plan to meet all climate targets and ensure energy security. It’s launching.
Along with funding amounts, the government has published a number of other measures and analyses. For example, a program called “Made Smarter Adoption” has been launched specifically to help small and medium-sized manufacturing companies make the transition. The program aims to help businesses leverage advanced digital technologies.
Additionally, the Government has launched a Hydrogen Industry Taskforce to work with the Hydrogen Innovation Initiative and Innovation UK to maximize investment opportunities in hydrogen propulsion system manufacturing in the UK.
The UK also wants to be active in setting industry standards to encourage innovation and growth in manufacturing. One example is the proliferation of so-called digital twins, which allow companies to create exact digital replicas of their entire production processes. There are now many supporters of this approach in the battery and automotive industries as well.
Kemi Badenoch, Secretary of State for Business and Trade, said: “The UK is a global hub for advanced manufacturing, with world-leading automotive, aerospace and maritime sectors,” adding: “This package will see a £4 billion Gigafactory and £600 million invested in manufacturing the next generation of electric Minis, ensuring the Government continues to create jobs, grow the economy and secure the future of great British manufacturing. We will be able to assist you.”
Energy Security and Net Zero Secretary Claire Coutinho said: “We have already attracted £200bn of low carbon investment since 2010, with a further £100bn expected by 2030; There will be a lot of investment possible,” he said.
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