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U.K. Offers 500 Million Pounds to Low Emissions Vehicles

Sept. 4 (Bloomberg) -- The U.K. government sought advice from industry on how it should invest 500 million pounds ($780 million) it has set aside to stimulate development of ultra-low emissions vehicles by 2020.

The government is calling for companies to submit suggestions on how it should distribute the money for the five-year period starting 2015 as it aims for every new car to be an ultra-low emission vehicle by 2040. It follows 400 million pounds of support provided to 2015.

“Our vision is that by 2050 almost every car and van will be an ultra-low emission vehicle with the U.K. at the forefront of their design, development and manufacture,” Transport Minister Norman Baker said in a statement from his office in London today. “This strategy moves us up a gear in pursuing that vision.”

The U.K. is pushing to reduce greenhouse gas from vehicles that contribute as much as 21 percent to the country’s emissions. It’s aiming to curb the pollution by at least 80 percent by 2050 compared to 1990 levels.

To contact the reporters on this story: Reed Landberg in London at landberg@bloomberg.net; Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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