Future electric vehicles: new Faraday battery challenge funding

Image from fleetcarma.com

A £25million funding competition from the Industrial Strategy Challenge Fund will be available to innovative businesses with projects to develop batteries for future electric vehicles.

The Faraday battery challenge is a £246 million investment to bring forward the next generation of electric vehicles. These will be powered by high-performance batteries that are cost-effective, lightweight, durable and safe, and can be recycled.

Funding details

This competition is to support business-led research and development to improve batteries for automotive applications.

There are 2 opportunities to apply, depending on the stage of your project, which are:

  • up to £23 million for industrial research and development
  • up to £2 million for feasibility studies

In both opportunities projects should aim to:

  • make it easier to scale up battery production and use
  • build the UK supply chain

Please see below a summary of the funding details:

Competition opens : 17 September 2018

Deadline : 12 December 2018

Lead : UK-based business OR research and technology organisation (in collaboration with other businesses, academic organisations, charities, public sector or research and technology organisations)

Available award : between £500,000 and £15million

Project duration : between 3 and 18 months

Please see this link for more information about this funding opportunity.