Business secretary Jacob Rees-Mogg has revealed £211m in government funding to go towards battery research and development.
Part of the government’s Faraday Battery Challenge, it aims to fund the manufacturing capacity for batteries and wider industry within the UK.
UKRI, the Faraday Institution, Innovate UK and the UK Battery Industrialisation Centre (UKBIC) will invest the battery research and development funding until 2025.
Rees-Mogg said: “Safe and powerful batteries are central to our plans to grow the industries of the future. From our world-leading renewables industry to our growing electric vehicle sector, secure supplies of batteries are key to delivering jobs and prosperity.”
The government predicts the battery industry will provide approximately 100,000 jobs by 2040.
Tony Harper, director, Faraday Battery Challenge said: “With the support of the Challenge, the £130 million UKBIC in Coventry opened three years ahead of its nearest European competition.
“The Centre provides the link between battery research and successful mass production. So far UKBIC has supported over 140 UK battery developers, working on more than 80 research and innovation projects, to successfully scale their products to market.”
Also announced was £4m for UKRI’s Driving the Electric Revolution Challenge for training in Power Electronics, Machines and Drives (PEMD) manufacturing and supply chains.
Last week science minister Nusrat Ghani unveiled a £15m fund for British businesses developing satellite communications technology.