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Government launches £246m battery fund as part of post-Brexit plan

The government has launched a new £246m fund to promote the development of electric batteries.

Under the scheme, businesses and academics will be invited to apply for funding to research and manufacture the technology.

The investment forms a part of the government’s new industrial strategy to protect the economy after Brexit.

The business minister Greg Clark is also keen to set up a Battery Institute and National Battery Manufacturing Development facility for car manufacturers.

“Joining together the research, development, application and manufacture of energy storage technologies – and specifically battery storage – is a huge opportunity for the energy sector and the automotive sector alike,” Clark said in a speech today.