Motortrades Insight Magazine Online Subscribe About Us Contact Us Motortrades Insight - Motoring News, Articles & Interviews Home Finance Reviews Under The Hood Motorsport Business Profiles Archive Related Tags: hm treasury, Danny Alexander, low emission cars, low emission cars prize fund, prize fund for low emission cars, prize money for eco friendly cars, McLaren P1 £10 Million Pound Prize Announced To Make Ultra Low Emission Cars By: Danny Hewitt Ref:A0528 Published: 26 July 2013

mclaren p1

A new £10 million prize to incentivise the development of the next generation of ultra low emission cars has been announced by the Chief Secretary to the Treasury Danny Alexander during a visit to McLaren.The prize will encourage commercial and investment opportunities in Britain''s car industry through the next generation of technology.It will be given for the technological improvements which enable ultra-low emissions vehicles to run as long as and as far as conventionally fuelled cars, without needing to stop or burn fossil fuel.The development of ultra-low emission vehicles are critical to reduce the impact of climate change and preserve the environment for future generations.The prize will only be targeted at technology for everyday cars that are comparable in price to conventionally fuelled cars, in order to ensure the next generation of low-emission cars are affordable for all.The technology required to power these vehicles is a major contributor to the cost of these vehicles, improved energy storage will also help reduce costs.The competition will start by the end of the year and will be open to all including businesses, universities and engineering experts.A panel of expert judges will assess the applications against a set of criteria to determine when the prize has been won.The Office for Low Emission Vehicles will work with the Technology Strategy Board on designing the prize, along with other partners from industry and the academic worldThe new prize comes on top of investment the government is already making in ultra-low emissions vehicles.£400 million has already been committed in this parliament to help increase take-up of ultra-low emission vehicles, through subsidised unit prices. £500m of investment in the next parliament will allow the government to continue to support the industry and consumers to switch to the latest low-carbon technology.The Chief Secretary to the Treasury, Danny Alexander said: “The McLaren P1 is a great British technological success story. But we want more companies to invest in this cutting-edge research so that Britain is the global leader in ultra low emission vehicles, and that is why we have announced a £10 million prize for innovations which will enable the next generation of low emissions vehicles to run as long as and as far as conventionally fuelled cars.”The government earlier this month also announced a new Advanced Propulsion Centre (APC), which will support the development of new supply chains for low carbon vehicles. It and will be jointly funded by the government and industry to the tune of £1 billion over 10 years.Low-emissions cars are also an expanding market and the 15,100 electric vehicles in the UK are expected to grow as technologies develop.

Related Articles // More Like This dummyFuel campaigners relieved after fears three pence duty rise would cost 35,000 people their jobs LAST month, campaigners for lower fuel prices made their views clear to the government that the three pence per litre fuel duty rise planned for January would cause significant hardship to thousandsdummyMcLaren MP4-28: 2013's most beautiful Formula One challenger AT a spectacular launch ceremony, Formula One frontrunner McLaren-Mercedes launched its challenger for the upcoming season ? accompanied by a parade of classic cars and the McLaren P1.While it may ldummyEco-friendly McLaren P1 engine to have astonishing 903bhp THE McLaren P1 will have the combined force of two highly-efficient powerplants, offering the optimum mix of superb throttle response, day-to-day drivability and top speed.A mid-mounted 123     « Previous ArticleNext Article » Subscribe to MotorTrades insight As featured on NewsNow: Motoring news News 24/7 MotorTrades Insight are now official news providers for NewsNow. Top Stories // This Week revolutionary-new-app-based-technology-will-change-the-way-we-interact-with-our-cars-with-007-style-geo-fence-securityRevolutionary new app-based ‘technology will change’ the way we interact with our cars with 007-style geo-fence sec.  This month, Cobra is launching an app with ‘a very prestigious car manufacturer’ that could trigger major changes in the way we interact with our vehicles.Andrew Smith, Managing Director of vehicle ... mercedes-announce-new-s-63-amg-will-cost-nearly-120000Mercedes announce new S 63 AMG will cost nearly £120,000.  Mercedes have made quite a bold, sweeping statement by calling their new S 63 AMG ‘the most sophisticated car in the world’, but it is by no means affordable for the majority of people – with a pric... young-drivers-plagued-by-inexperience-overconfidence-and-peer-pressure-motorists-claimYoung drivers plagued by inexperience, overconfidence and peer pressure, motorists claim.  Inexperience and overconfidence are the main reasons that new drivers are the riskiest group of road users, according to the latest poll from road safety charity IAM (Institute of Advanced Motorists... nissan-friend-me-concept-makes-european-debut-in-frankfurtNissan Friend-Me Concept makes European debut in Frankfurt.  The Nissan Friend-Me concept has made its European debut today at the Frankfurt Motor Show.Combining striking design with an advanced premium interior, the Friend-Me concept car is a fascinating exp... car-dealerships-need-to-be-active-in-finding-newly-qualified-youngsters-to-help-reduce-youth-unemploymentCar dealerships need to 'be active' in finding 'newly qualified youngsters' to help reduce youth unemployment.  Steve Nash, CEO of the Institute of Motor Industry (IMI), is urging the retail motor sector to capitalise on the opportunity of increased new car sales with a greater commitment to apprenticeships a... gibraltar-the-view-from-miss-gibraltar-and-the-people-on-border-queues-smashed-cars-and-spanish-suppression-as-tensions-escalateGibraltar: the view from Miss Gibraltar and the people on border queues, smashed cars and Spanish suppression as te.  Motortrades Insight has exclusively published the views of the people of Gibraltar on the British territory’s relations with Spain, speaking out on the sheer amount of car vandalism and suppression.... top-gear-jeremy-clarksons-jaguar-to-go-under-the-hammer-at-kings-lynn-car-auctionTop Gear: Jeremy Clarkson's Jaguar to go under the hammer at King's Lynn car auction.  Top Gear is set to return to Anglia Car Auctions, as presenter Jeremy Clarkson’s once owned 1999 Jaguar XJR goes under the hammer in the King’s Lynn auction house’s classic sale on Saturday, August ... george-clooney-and-sandra-bullock-arrive-at-venice-film-festival-in-maserati-quattroporteGeorge Clooney and Sandra Bullock arrive at Venice film festival in Maserati Quattroporte.  Yesterday evening saw the highly anticipated inauguration ceremony of the 70th Venice International Film Festival. For an event of such calibre, world renowned international stars arrived on th... energy-efficiency-viessmann-says-car-dealerships-should-consider-ground-source-heat-pumps-but-must-watch-out-for-scammersEnergy efficiency: Viessmann says car dealerships should consider ground source heat pumps but must watch out for s.  Ground-source heat pumps and under-floor heating could transform the green credentials of the automotive retail industry – and save dealerships thousands of pounds in heating bills in the long-run.B... millions-of-young-drivers-clueless-about-engine-oilMillions of young drivers clueless about engine oil.  New research has revealed that as many as 21.8 million motorists in the UK do not know that their engine oil expires. A new study by Kwik Fit has found that a whopping two thirds 65 per cent of... rare-1978-bmw-m1-set-to-attend-salon-privRare 1978 BMW M1 set to attend Salon Privé.  An 'ultra-rare' vintage BMW M1 will be on display at next month''s Salon Privé. Not to be confused with the BMW 1 Series M Coupe, the BMW M1 was the result of an agreement to build a production raci...  Company Info // Get in Touch © Motortrades Insight Limited 2012 - 2013 Tel: 0844 656 1808 Email: accounts@motortradesinsight.co.uk Motortrades Insight Limited trading as motortradesinsight.co.uk Registered Address The Coach House Baddow Park West Hanningfield Road Great Baddow Chelmsford Essex CM2 7SY Company Reg: 07302221 VAT No: 120173663 Links // On The Web >> >> Subscribe to Mailing List >> Advertise on Motortrades Insight >> Motorsport News >> >> Motoring Industry News >> Blog >> Used Car Buyers Guide >> Link To Us >> Ratecard >> Privacy Policy >> Terms and Conditions Twitter // Follow Us Cookies on Motortrades Insight

Like many popular websites, Motortrades Insight uses some third party widgets that may set and may have already set cookies, for example the Twitter feed on our homepage. For more information see our cookie policy. By clicking close and continue you agree to our use of cookies.