Welsh Government Announces £1m for Innovation in Low Carbon Vehicles

The Welsh Government will co-fund a third round of investment in greener and cleaner innovation as part of its response to the climate emergency.

The Welsh Government is co-funding the Ford Low Carbon Vehicle Transition Fund, encouraging businesses to move beyond manufacturing internal combustion engines to producing low carbon vehicle technologies. The aim is to help to stimulate innovative economic growth in Wales.

The Fund will address strategic industrial technical challenges associated with low carbon vehicles. There will be a clear focus on commercialisation and exploitation of new products, processes or services and growing capacity in low carbon technologies.

In 2023, the Fund has a total value of £1 million. It is anticipated that most applications will be for up to £300,000, however, exceptional projects of up to £750,000 will be considered. Grant intervention rates will depend on company size and the support applied for.

Eligible costs include capital equipment and the cost of secondments or short term contracts for external experts.

Companies of any size can apply, and partners do not have to be based in Wales. Research organisations can apply to run collaborative projects with industry partners. Collaborative projects, which could lead to the creation of new supply chains, are encouraged.

The deadline for applications is 29 September 2023 (12:00 BST).

(This report was the subject of a GRANTfinder Newsflash.)