The UK government has launched a £2.5 billion initiative called DRIVE35 aimed at boosting investment, innovation, and job creation in the automotive sector over the next decade. This strategy focuses on increasing advanced manufacturing investment by 2035, offering various funding competitions for electric vehicle (EV) production and innovation. With a commitment of £2 billion for capital support and an additional £500 million for research, this program aims to create a globally competitive EV supply chain and sustain 132,000 jobs in the UK automotive industry.
The UK government has launched a £2.5 billion, decade-long strategy to accelerate investment, innovation and job creation across the country's automotive sector.
Dubbed DRIVE35, the initiative is part of the UK's modern Industrial Strategy and sets out a bold ambition to significantly increase advanced manufacturing investment by 2035.
The government has committed £2 billion in capital support to 2030, with an additional £500 million for research and development to 2035.
The automotive sector currently supports 132,000 UK jobs and contributed £21.4 billion in GVA in 2024.
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