UK invests £56mil to hasten commercialization of low-CO2 technologies

Article by Anita Panait, on July 27, 2012

The UK government wants to expedite the commercialization of low-CO2 vehicle technologies with an investment amounting to £56 million ($86.9 million) derived from public and private funds, according to the Technology Strategy Board. In a statement, the innovation agency said that over £27 million of public funds and £29 million of private money will be invested in 17 r&d projects led by automakers like Jaguar Land Rover, Ford and Nissan. According to Transport Minister Norman Baker, accelerating the commercialization of low-carbon vehicle technologies will help the government achieve its climate change targets as well as create new jobs, and increase opportunities for UK companies in the international market.

European Commission data show that that the road transportation sector has been increasing its emissions, with a surge of around 26 percent between 1990 and 2008. Carmakers are under increasing pressure to cut their vehicle’s CO2 emissions to comply with regulations set by the European Union, with heavy fines waiting for those who failed to achieve the targets.

Earlier this month, the European Commission, the executive arm of the EU, outlined plans to increase the limits on the amount of CO2 new vehicles can emit. Car manufacturers are currently taking on new technologies that would cut vehicle emissions like developing electric vehicles and hybrids.

Topics: uk, investment

If you liked the article, share on:

Comments

Recommended

Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
It seems that AM-RB 001 hypercar is not the only vehicle project that Aston Martin and Red Bull Racing has gone into. This time, don’t expect something as outlandish as...
by - February 24, 2017
The year 2018 marks the golden anniversary of Subaru of America. Of course, the company will celebrate 50 years of being at the helm of the brand’s crusade in North...
by - February 24, 2017
During car crashes and accidents, there are times that its occupants can’t get out easily. There are times when the only way to get out of that situation is to...
by - February 23, 2017
Could this be a special version of Ferrari’s much acclaimed LaFerrari? No matter how we look at it, the patent images for this sports car from Ferrari indicate its striking...
by - February 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries