Skip to content
Search AI Powered

Latest Stories

Alok Sharma announces £37m to make green electric machines

BRITISH business secretary and COP26 president Alok Sharma on Wednesday (4) announced a £36.7 million investment to design, test, and manufacture green electric machines in some of the most polluting industries in the UK.

The announcement comes as the prime minister holds the first meeting of a new Cabinet committee focused on tackling climate change, discussing how the government can go further and faster towards net zero.


A sum of £30m will be used to create four new centres of excellence -based in Newport, Nottingham, Strathclyde, and Sunderland.

The new centres will bring together climate change pioneers to research and develop green electric machines, including planes, ships, and cars.

The network of the centres will specialise in researching and developing technologies to electrify transport.

Each centre will propel UK manufacturing to the forefront of global efforts to tackle climate change and ensure the UK can reach net zero emissions by 2050.

A further £6.7m will be awarded to 14 projects that will help ensure the final buyer in supply chains, such as large automotive manufacturers, can access the parts and components they need to develop electric machines with ease.

This investment will have applications for electric vehicles, as well as other industries, including rail, marine, aerospace and energy -- all with the aim of switching away from fossil fuel technologies.

Sharma said: “The electric revolution is an opportunity for our transport sectors to reduce the dependence on fossil fuels.

“The UK is leading the way in developing cleaner technologies to help us reach our target of zero emissions by 2050 and these new centres will play an important part in that.”

Over 30 partner research and technology organisations will be a part of the industrialisation centres.

The network will be headed up by lead partner Newcastle University, along with 21 other universities from around the UK, over 13 research and technology organisations – and will be essential in attracting both foreign direct investment and new, innovative entrants into the space.

More For You

After revolutionising trucking,
Zeus now targets global growth

Jai Kanwar

After revolutionising trucking, Zeus now targets global growth

FROM two friends meeting in a boarding school in the UK, to being named in the Forbes 30 Under 30 list, Jai Kanwar and Clemente Theotokis have had a meteoric rise in the logistics sector.

When they created Zeus Labs (Zeus) in 2019, their plan was to modernise one of the most traditional sectors of the global economy – transport and logistics.

Keep ReadingShow less
CES-2025

CES 2025, organised by the Consumer Technology Association (CTA), will be held from 7 to 10 January.

Indian tech innovations to shine at CES 2025, says top executive

THE INDIAN technology sector continues to capture attention, with several startups and entrepreneurs showcasing their innovations at CES 2025, the world's largest tech event.

John Kelley, vice president and show director of CES, described the Indian tech story as “fascinating” and highlighted its growing global significance.

Keep ReadingShow less
Anil Agarwal acquires London's historic Riverside Studios

Anil Agarwal

Anil Agarwal acquires London's historic Riverside Studios

THE founder and chairman of Vedanta group Anil Agarwal is the new owner of the iconic Riverside Studio in London, a statement said on Wednesday (8).

The 100-year-old studio, which is a renowned global centre for arts and located on the north bank of the river Thames in the centre of London, will now operate under the name ‘Anil Agarwal Riverside Studios Trust’, it informed.

Keep ReadingShow less
india-gdp-iStock

India's GDP growth was 9.7 per cent in 2021-22, 7 per cent in 2022-23, and 8.2 per cent in 2023-24. )Representational image: iStock)

India's GDP growth projected to fall to 6.4 per cent in FY25

INDIA's gross domestic product (GDP) growth is projected to decline to 6.4 per cent in the financial year 2024-25, marking its lowest rate in four years, according to government data released on Tuesday. The slowdown is attributed to weaker performance in the manufacturing and services sectors.

The growth rate of 6.4 per cent, estimated by the national statistics office (NSO), is the lowest since the contraction of 5.8 per cent recorded during the Covid-19 pandemic in 2020-21. GDP growth was 9.7 per cent in 2021-22, 7 per cent in 2022-23, and 8.2 per cent in 2023-24.

Keep ReadingShow less
Reeves and Chandra lead UK delegation at Davos

Varun Chandra

Reeves and Chandra lead UK delegation at Davos

CHANCELLOR Rachel Reeves will lead a group of ministers at the World Economic Forum (WEF) in Davos this month, as the government works to attract global investors and reassure British businesses.

Reeves, who has attended the event for the past two years in her role as shadow chancellor, will meet with key international investors, including sovereign wealth funds and private equity firms from the US, reported the Times. The government is looking to secure financial backing for its plans related to infrastructure and green energy.

Keep ReadingShow less