Business Secretary Greg Clark said the aim is to ensure the UK leads the world in the design, development and manufacture of electric batteries.
Known as the Faraday Challenge, the four-year investment round is a key part of the Government’s Industrial Strategy. It will deliver a programme of competitions that will aim to boost the research and development of battery technology.
The minister will tell a meeting hosted by the Resolution Foundation in Birmingham: “To enjoy a high and rising standard of living we must plan to be more productive than in the past.
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