University of Warwick shares £12m electric car development boost

The project aims to reduce the price of electric batteries and vehicles

The University of Warwick has been given £12m in funding to increase the production of electric car batteries within the UK.

The money will be used to create a centre that develops more efficient and sustainable batteries.

Battery manufacturing from the Midlands and the North-East will be brought together under the operation.

The project aims to reduce the price of electric batteries.

Batteries currently make up about half the cost of an electric vehicle, so reducing sums linked to batteries is "crucial" to boosting uptake in the technology among consumers, according to the university.

Warwick Manufacturing Group (WMG) at the university and CPI manufacturing in County Durham will receive the funding from Faraday Battery Challenge.

Frank Millar, chief executive officer at CPI, said the investment would help tackle issues such as climate change.

"[The Advanced Materials Batteries Industrialisation Centre] stands to become a catalyst for the UK to address some of the biggest challenges we face as a nation," he said.