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<p>In 2020, £500m of Automotive Transformation Fund (ATF) funding was announced in
the Ten Point Plan. The 2021 Net Zero Strategy announced a further £350m funding for
the ATF between 2022/23-2024/25. £136m of this budget, for financial year 2022-23,
was later reprioritised by BEIS (predecessor department) for investment in Sizewell
C</p><p> </p><p>As of September 2023, the total value of offers made under the ATF
is over £550 million. In addition, we are in active discussions with investors on
a wide range of exciting new projects for the UK's electric vehicle supply chain.</p>
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