Business Secretary Jacob Rees-Mogg announced £211m of government funding for battery research and development.

Part of the government Faraday battery challengeit aims to fund manufacturing capacity for batteries and the wider industry in the UK.

UKRI, the Faraday Institute, Innovate UK and the UK Battery Industrialization Center (UKBIC) will invest funding in battery research and development until 2025.

Rees-Mogg said: “Safe and powerful batteries are central to our plans for the industry of the future. From our world-leading renewable energy industry to our growing electric vehicle sector, a secure supply of batteries is key to creating jobs and prosperity.”

The government predicts that the battery industry will provide around 100,000 jobs by 2040.

Tony Harper, director of the Faraday Battery Challenge, said: “Supported by the Challenge, the £130m UKBIC in Coventry opened three years before the next European competition.

“The center provides a link between battery research and successful mass production. To date, UKBIC has supported more than 140 UK battery developers working on more than 80 research and innovation projects to successfully bring their products to market.”

£4m has also been announced for UKRI Driving the Electric Revolution Challenge for training in Power Electronics, Machines and Drives (PEMD) manufacturing and supply chains.

Last week, Science Minister Nusrat Ghani introduced a Fund of 15 million pounds for British businesses developing satellite communications technology.

Government unveils £211m for battery research and development