As part of my Rt. Hon. Friend the Prime Minister’s 10 Point Plan for a green industrial revolution, nearly £500m of funding for the Automotive Transformation Fund will be made available in the next four years to build an internationally competitive electric vehicle supply chain. This funding is the first part of the up to £1 billion committed by the Government to ensure that the UK takes advantage of this once in a generation opportunity. The Automotive Transformation Fund will target support at strategically important technologies (batteries, motors, drives, power electronics and fuel cells).
The Offshore Wind Manufacturing Investment Scheme allocated £160 million to upgrade ports and manufacturing infrastructure across the UK to enable the sector to support jobs and investment in ports, factories and the supply chains, manufacturing the next-generation of offshore wind turbines. In February we announced up to £95m to invest in two new dedicated offshore wind ports in Teesside and Humberside, and in March we announced the first investment, GE Renewables who will build a state-of-the-art blade manufacturing facility at Teesside creating 735 direct jobs.