Article Source: IMehcE
A new £184m investment will help train “the next generation of world-class engineers and exceptional scientists at British universities,” business secretary Greg Clark will announce today.
Clark will announce the funding, to be distributed to 41 UK universities for doctoral training partnerships, at the launch of a new government-funded electric motor factory.
The production facility for University of Oxford spin-out company Yasa will help deliver the next generation of environmentally-friendly hybrid and electric vehicles, 80% of which will be exported, the government said.
“Innovation is the lifeblood of our industrial strategy and our economy,” said Clark. “This spirit is embodied by Yasa, a thriving business that has emerged from one of our finest academic institutions.”
He added: “Through our industrial strategy, we are helping businesses and our world-leading researchers turn incredible ideas into scale-up products and services that are available to everyone.”
The £184m investment, which follows the launch of the Year of Engineering, will fund four-year doctoral scholarships to provide UK and international students with PhD training in science, engineering and mathematics. The partnerships will support students entering training in the academic years beginning in October this year and next year.
The new factory, part of the government’s ambition to be at the forefront of electric vehicle production, will have an annual production capacity of 100,000 and support 150 highly-skilled jobs.
“Yasa is a great example of what the UK can and should expect to achieve if we invest in the innovative and creative ideas emerging from our best universities, and have the determination and patience to turn those great ideas into world-beating companies,” said CEO Chris Harris.
“With the right support and investment, companies like Yasa can become the powerhouse of the UK’s future economy, creating a wide range of high-skilled jobs and benefiting the communities of which they are a part.”