Govt's R&D fund 'will support green car start-ups'
- Published on Thursday, 24 March 2011 09:44
- Posted by Scott Buckler
The government's £10 million research and development fund will support green car start-ups, business minister Mark Prisk has said
It was announced that the fund would be dedicated to low carbon vehicle technology such as the development of hybrid electric vehicles and more efficient models.
Mr Prisk said that the fund would also encourage small manufacturers to enter the market and bridge the gap between prototype and commercialisation, in addition to other government schemes.
"We've tried to take a joint approach across all the low carbon economies so that whether it's electric or hybrid, or some of the other technologies that are coming through ... there's a strong investment,"
"What we've tried to do is provide catalyst funding ... alongside the work like the Plug-in Car Grant and the Plugged-in Places scheme. So there is a mix of some consumer incentives, but also some R&D; investments."
It comes after a small electric van manufacturer, Modec, went into administration after a takeover by US firm Navistar fell through.