A MULTI-MILLION-pound scheme could secure 1,500 jobs in the city and cut millions of tons of carbon emissions.

Today it was revealed that BMW in Oxford has been awarded £26.2 million to develop electric vehicle battery’s which will have a similar range to petrol and diesel engines.

Government and industry combined funding, means the project could secure 1,500 jobs in Oxford as well as save 3.6 million tons of carbon emissions.

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The project will develop BMWs largest battery, which is hoped will deliver ‘superior performance’ to current batteries at a competitive cost.

The Government has announced that by 2030 petrol and diesel cars will no longer be sold in the UK, meaning decarbonised cars and vans will be needed more than ever.

Minister for Investment Lord Grimstone said: “So much of the UK’s rich automotive history has taken place right here in Oxford, and it is exciting to see it playing its part in the sector’s future.

“By developing batteries with the range of traditional combustion engines, BMW is tackling key consumer concerns about electric vehicles, accelerating their uptake, and supporting our plans to end the sale of new petrol and diesel cars from 2030.

“By backing projects like these with government funding, we are positioning the UK at the forefront of green automotive innovation, helping to secure a strong, sustainable future for the sector and creating high-quality jobs across the UK.”

The BMW project is one of the four companies that have been awarded funding through the Advanced Propulsion Centre CR&D Competition, which backs businesses developing green automotive technology.

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Ian Constance, Chief Executive at the APC said: “These projects tackle some really important challenges in the journey to net-zero road transport. They address range anxiety and cost which can be barriers to people making the switch to electric vehicles and they also provide potential solutions to the challenge of how we decarbonize public transport and the movement of goods.

“By investing in this innovation, we’re taking these technologies closer to the point where they are commercially viable, which will strengthen the UK’s automotive supply chain, safeguard or create jobs and reduce harmful greenhouse emissions.”

The four projects, backed collectively by £91.7 million of funding, could in total save almost 32 million tonnes of carbon emissions and secure over 2,700 jobs across the country.

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Andreas Loehrke, Head of Research and Design for BMW Motorsport Ltd. UK, said: “This is a really exciting opportunity to collaborate with world-leading companies to develop high tech battery technology. It strengthens our UK partner base and safeguards and extends our research and design centre.”