Innovate UK has announced that it has £25 million of funding available in the latest Faraday Battery Challenge opportunity. This is part of the government’s Industrial Strategy Challenge Fund and is based around the intent to develop and invest in new automotive battery technologies that will be able to help to build the vehicle battery supply chain in the UK.
The Faraday Battery Challenge is specifically aimed at cutting emissions and improving air quality as the government commits to ending the sale of both new diesel and petrol cars and vans by 2040. This includes a £246 million investment over 4 years which will promote and support the development of recyclable, high-preforming batteries that are safe, durable, lighter weight and cost-effective.
Projects in the competition are required to support the challenge’s aim of making the UK a global leader in the design, development and manufacture of batteries for electric vehicles.