Announced on Thursday 25 July, the UK government has launched its £80mn ‘Industrial Strategy Challenge Fund: Driving the Electric Revolution Challenge’. The government said it will accelerate the UK’s ability to deliver the supply chains required to enable electrification in the automotive, aerospace, energy, industrial, marine, off highway and rail sectors and deliver the UK’s carbon reduction targets. Businesses can apply for a share of £19mn, where the competition has two strands: one for larger projects with total costs between £1-3mn, and another for smaller projects with total costs between £250,000-1mn. The competition will open on Monday 29 July and close on Wednesday 25 September.
