Government invests in green engine research

July 14th 2010

Car manufacturer Ford has received financial backing from the government for new low-carbon engine research.

The company has been granted a £450 million loan in order to research and produce environmentally-friendly engines and technologies.

Following the announcement, Business Minister Mark Brisk visited Ford's technical centre at Dunton, one of four sites where the research and development will take place.

Mr Prisk said during his visit: "Ford has an impressive track record in research and development. Its investment of £1.5 billion over the next five years is a great opportunity to take the lead in developing low carbon manufacturing."

The funding has been provided by the European Investment Bank (EIB) and is part of a £1.5 billion engine and vehicle development programme that Ford intends to roll out over the next five years.

Simon Brooks, the vice-president of the EIB, welcomed the news, stating that the development of fuel-efficient vehicles with low-emission engines would be a major factor in tackling climate change.

Ford of Britain chairman Joe Greenwell said the loan is "testament to the skills and capabilities of our UK workforce".