- UK invests £200 million for 370 zero-emission trucks to help decarbonize the freight sector.
- 57 charging sites established, solidifying infrastructure for electric vehicles.
- £2 million for Freight Innovation Fund, fostering innovation in the haulage sector.
The UK government injects £200 million into decarbonizing the country’s freight sector
Partnering with Innovate UK, this funding aims to introduce approximately 370 zero-emission heavy goods vehicles (HGVs) on the nation’s roads.
The funding will be distributed across four innovative green projects. This includes establishing 57 refuelling and electric charging sites strategically placed to facilitate the transition toward zero-emission transport.
Roads Minister Richard Holden said:
“Freight and logistics are the beating heart of our economy and it is only right that we celebrate the sector so that it gets the recognition and support it deserves.
From boosting zero emission tech across freight to attracting the future generation of talent to the industry, we are working hard to drive innovation, create jobs and grow the economy by building a brighter, more innovative future for one of our most crucial industries.”
This investment will even shield leading grocery companies like Sainsbury’s and Marks and Spencer. Fluctuating fuel prices is encouraging them to escalate their delivery costs. By preventing potential price hikes in supermarkets, consumers can expect stability in their food expenditure. That really shows how all-encompassing the EV industry can be.
Additionally, the government is allocating an extra £2 million to boost innovation and green technology in the freight industry through the Freight Innovation Fund. This fund includes the FIF Accelerator, encouraging up to 10 small and medium-sized enterprises to develop eco-friendly freight solutions.
Indro Mukerjee, CEO of Innovate UK, commented:
“As the UK’s innovation agency, Innovate UK is committed to supporting innovative UK businesses working to decarbonise the UK’s road freight industry.
Together with the Department for Transport, the £200 million in Government funding will develop world-leading battery and hydrogen trucks and demonstrate at a large scale, creating greener jobs, and boosting our net zero economy.”
This move is part of a broader effort by the government to support decarbonizing the freight sector. It comes alongside measures such as an extension of the fuel duty cut until March 2024 and unprecedented actions, including substantial funding for improved roadside facilities and skill bootcamps.
This substantial investment will bolster the UK’s efforts towards environmental sustainability, economic growth, and job creation. Decarbonizing the freight sector takes time, dedication, innovation, and, perhaps most importantly, investment. This funding could go a long way for the UK’s net zero efforts.
