The UK will need to switch to electrification across many sectors from automotive to energy distribution in order to meet its carbon reduction targets.
This change also represents a significant global opportunity for UK businesses making the power electronics, machines and drivers that will be required.
The UK government has launched the £80 million Industrial Strategy Challenge Fund Driving the Electric Revolution Challenge to help businesses to meet this need.
Its aim is to accelerate the UK’s ability to deliver the next generation of electric vehicles, hybrid aircraft, energy generation, smart grids, industrial drives, consumer products, agricultural vehicles, ships and rail.
There is up to £19 million from the Industrial Strategy Challenge Fund to invest in projects that support the creation, development and scale-up of supply chains in power electronics, machines and drives.