Motor industry to get £1bn innovation fund

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Vince Cable at Ford's research centre at Basildon this morning Credit: ITV

£1 billion is to be spent on developing a new generation of car engines aimed at improving fuel efficiency and reducing carbon emissions.

Business Secretary Vince Cable is at Ford's research centre at Basildon in Essex today to announce joint government and industry funding for the work. It's expected the project could secure 30,000 UK jobs linked to producing engines.

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Region to benefit from £1bn motor industry fund

£1 billion is to be spent on developing a new generation of car engines aimed at improving efficiency and reducing emissions. Business Secretary Vince Cable is at Ford's research centre at Basildon to announce joint government and industry funding.