Businesses with innovative projects to develop batteries for future electric vehicles (EVs) are being invited to bid for a share of £25 million.

It is part of the £246 million Faraday Battery Challenge, which aims to develop high-performance, lightweight batteries that are cost-effective, durable, safe and recyclable for the next generation of EVs.

There are two opportunities to apply for funding: up to £23 million is available for industrial research and development and up to £2 million for feasibility studies.

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