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BMW secures GBP 26m funding for EV battery

BMW secures GBP 26m funding for EV battery

Mubasher: BMW has secured GBP 26.2 million ($36.07 million) in joint funding from industry and the British government for a project centred around the development of a long-distance electric vehicle (EV) battery.

Called BMW-UK-BEV, the project is based in UK’s Oxford and is one of four to receive funding through the Advanced Propulsion Centre Collaborative Research and Development competition, CNBC reported on Wednesday.

The project reportedly aims to rival the range of internal combustion engines, with expectations to develop BMW's largest battery pack to deliver superior performance at competitive costs.

The UK intends to stop selling new diesel and gasoline cars and vans by 2030, therefore, introducing technologies that can boost the distances of EVs will be crucial.

With a total amount of GBP 91.7 million has been already provided, the other projects to receive funding besides BMW’s are Brunel for hydrogen-fueled internal combustion engines, Celeritas for the development of ultra-fast charging batteries, and Reecorner for redesigning what the government described as light and medium-sized commercial EVs.