Britain’s car industry has been handed a £2.5 billion lifeline, as the government launches DRIVE35 – a decade-long plan to ramp up zero-emission vehicle manufacturing.

Part of the revamped Industrial Strategy, the funding package aims to “unlock investment and innovation in the UK” according to SMMT boss Mike Hawes and secure tens of thousands of jobs in a sector, that pumped £21.4 billion into the economy in 2024.

Business and Trade Secretary Jonathan Reynolds called it “the biggest set of announcements for the sector in the last decade” and said: “We’re helping British carmakers get to the front of the pack by working hand in hand with investors.”

At the heart of DRIVE35 is a fresh wave of funding competitions designed to support auto businesses of all sizes – from start-ups to giants like JLR and Mercedes.

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