The UK is a world leader in developing the power electronics, electric machines and drives that are fundamental to a global shift to clean technologies and electrification.
These technologies are taken to concept level in the UK, but new products are usually manufactured elsewhere.
The UK government's Industrial Strategy Challenge Fund Driving the Electric Revolution Challenge is an £80 million investment in the development of supply chains in the UK that support manufacturing in these new technologies.
The aim is to build supply chains across 7 key areas of the economy and help contribute to UK carbon reduction targets:
- automotive
- aerospace
- energy
- industrial
- marine
- off highway
- rail
Developing the UK's ability to manufacture in this field is expected to create £5 billion of new business by 2025 and up to £80 billion by 2050.
Innovate UK, as part of UK Research and Innovation, has up to £30 million from the fund to invest in a series of flagship regional centres to develop, prototype and scale up power electronics, machines and drives technologies.
