The Department for Business, Innovation and Skills (BIS) has announced the launch of a new £75 million fund for the promotion of greener engines and propulsion systems for the UK automotive sector over the coming years.

A pilot project for the creation of a new Advanced Propulsion Centre will channel more than £1 billion of government funding into the development of new engines and technologies over the next decade, while a range of other schemes are set to be tendered for over the coming months.

The Technology Strategy Board will oversee all applications for this latest tranche of investment in greener vehicles across the UK, with BIS officials estimating the influx of money into the industry will help to safeguard up to 30,000 jobs in the country's engine production sector.

Business secretary Vince Cable commented: "By 2050, very few – if any – new cars will be powered solely by the traditional internal combustion engines, so it is important that the UK car industry is at the cutting edge of low carbon technologies.

"The Advanced Propulsion Centre, launched as part of our Industrial Strategy, will help to position the UK as a leading innovator, while securing jobs and strengthening supply chains."

He added one vehicle is rolling off UK car manufacturer's production lines every 20 seconds at present, with the industry going from strength to strength over recent years.

However, the sector cannot rest on its laurels and must continue to invest in new technologies and innovations to ensure continued growth and success by focusing on the long-term challenges of fuel efficiency, lower emissions and economic recovery for the nation as a whole.

The news follows an announcement by deputy prime minister Nick Clegg regarding a further £500 million investment in the development of low-carbon technologies, with the challenge of encouraging more people across the country to take up low-carbon vehicles.

Looking for help to eliminate Fuel fraud?

Clare Lafferty of The Fuelcard People can help you find the best fuel card for you and your business, which will help you to have the peace of mind that you are helping to eliminate the chances of fuel purchase fraud by your drivers.

The Texaco Fastfuel fuel card is just one of the many products Clare can offer to help you and your business to increase the security of your fuel purchases.

Posted by Clare Lafferty, Account Manager, The Fuelcard People.