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Innovate UK set up the Low Carbon Vehicles Innovation Platform in 2007. It has 3 main goals:
to contribute to the growth of the UK automotive sector
to increase and speed up the introduction of vehicle-centric technologies to the low carbon vehicles market
to help the UK reduce CO2 and other emissions caused by road transport
This review shows the impact that the investments made through the platform are forecast to have on business and the UK economy. For instance, every £1 invested through the Low Carbon Vehicles Innovation Platform (LCV IP) is forecast to return £20 to £34 over 15 years and £8 to £14 in the medium term. Businesses funded also expect to create or protect up to 12,000 jobs over the same period.