The government will invest £500 million to boost the ultra low emission vehicle industry and help drivers both afford and feel confident using electric cars, the Deputy Prime Minister announced today.
The automotive sector is a success story of the UK’s economic recovery, with a new vehicle rolling off a UK production line every 20 seconds and the industry is worth £11.2 billion to the economy. The production of ultra low emissions vehicles (ULEV) is a major part of growth both now and for the future.
The investment of £500 million between 2015 and 2020 will create jobs, reduce emissions and set the agenda for the industry, for our towns and cities, and for motorists, so that Britain remains at the forefront of green technology.