LONDON (Reuters) - The British government is aiming to speed up the commercialization of low-carbon vehicle technologies with public and private sector investment totaling 56 million pounds ($86.9 million), the UK's innovation agency said on Tuesday.
Over 27 million pounds of public funding, along with 29 million pounds of private sector money, will be invested in 17 research and development projects led by carmakers such as Ford, Jaguar, LandRover and Nissan, the Technology Strategy Board said in a statement.
"Accelerating the commercialization of low-carbon vehicle technologies will help to achieve our challenging climate change targets as well as creating new jobs, and increasing opportunities for UK businesses on the world stage," said transport minister Norman Baker.