Why is the Automotive Industry a key area of focus for the UK government?
What’s the Industrial Strategy?
The Industrial Strategy sets out a long term plan to boost the productivity and earning power of people throughout the UK. It is built on the following 5 foundations; ideas, people, infrastructure, business environment and places.
Why the focus on Automotive?
The Industrial Strategy focuses on five sector deals which the Government believes will create significant opportunities to boost productivity. The automotive industry is one sector of focus because it has powered the UK economy forward for decades. It has been stated that over the next 10 years the automotive sector will pose more change than has been seen in the past hundred years, so investment in the industry is essential. The sector provides over 390,000 high quality and well-paid jobs and that figure is expected to rise with the planned investments.
What has been committed?
To build on the 5 foundations outlined earlier the Government has set out key policies. One of the key policies is to raise total research and development (R&D) investment to 2.4 per cent of GDP by 2027 (ideas). Another is to support electric vehicles through £400m charging infrastructure investment and an extra £100m for the plug-in car grant.
Underneath the ‘ideas’ section of the industrial strategy, it has been committed that £250m will be invested to position the UK as a global leader in the development and deployment of connected and autonomous vehicles (CAVs).
If you would like to know more about the investments and promises that have been made in relation to each of the 5 foundations you can read the full industrial strategy here.
Funding available to innovative companies within the automotive sector
Horizon 2020 is a R&D funding stream open to businesses who wish to develop a product or service operating within the relevant three pillars (excellent science, industrial leadership and societal changes). The Enterprise Europe Network can help you prepare for and strengthen your funding application. We have a team of expert advisers which specialise in supporting businesses like yours access funding.
The Enterprise Europe Network recently delivered a Global Business Accelerator Programme to Detroit focusing on the automotive sector. The aim of this programme was to encourage international collaborations here is what one of our delegates had to say about the programme…
The trip also facilitated networking with US-based Department of International Trade advisors who we are in contact with to explore export opportunities of our technology to US markets. The Autonomous Vehicle Global Business Accelerator Programme is an excellent initiative, and it would be a very useful opportunity for Propelmee to be a part of future programmes to other international markets. - Zain Khawaja, Founder & Lead Technologist, Propelmee Ltd.