2023 Report details for project: Automotive Transformation Fund
| Project name | Automotive Transformation Fund - there is only one report for this project |
|---|---|
| Google search | Google search on project name (opens in new window)  |
| Contracts | Contracts search (opens in new window) - under development |
| Organisation | DBT (D?) - see all reports for this organisation |
| Report year | 2023 (data is from September 2022) |
| Category | Infrastructure - see all reports for this category |
| Description: | The Automotive Transformation Fund (ATF) is designed to support the creation of an internationally competitive zero emission vehicle supply chain in the UK. The ATF supports late stage R&D and capital investment across strategically important parts of the electric vehicle supply chain: batteries, motors and drives, power electronics, hydrogen fuel cells and storage tanks. Specific objectives relate to the creation and safeguarding of jobs, securing private investment, supporting the UK's role in tackling climate change by reducing global emissions from the sector, and helping to build secure and resilient supply chains and supporting EV manufacturers to meet rules of origin requirements. |
| DCA (RAG) | Amber |
| DCA text: | The Senior Responsible Owner's DCA rating at 22/23-Q4 is Amber. This is primarily due to the following factors. Having surrendered some programme budget in the past year, the Automotive Transformation Fund (ATF) team will assess the impact on benefit realisation and continue to closely monitor the benefits delivered by means of annual project reviews. The team continue to assess cases in the ATF pipeline and to hold discussions with original equipment manufacturers (OEMs) regarding potential electric vehicle investments in the UK (which are complementary to the supply chain investments the ATF is designed to support) The team will continue their engagement with industry and discussions across government to establish a long-term commitment to secure zero-emission vehicle manufacturing in the UK and improve the speed at which government provides support. |
| Start date | 2020-07-31 |
| End date | 2025-03-31 |
| Schedule text | The project's end-date at 22/23-Q4 is 2025-03-31. This is primarily due to the following factors. Although the Automotive Transformation Fund is currently only funded to March 2025, the programme team have begun engagement with industry and discussions across government to consider how the government can build on existing interventions to take decisive action to ensure future investment in zero emission vehicle manufacturing. |
| Baseline | £191.31m |
| Forecast | £7.42m |
| Variance | -96.00% |
| Variance text: | The budget variance exceeds 5%. The ATF has surrendered some programme budget in the past year and other forecasted project spend has slipped right, for a number of reasons, into future years. The ATF team will assess the impact on benefit realisation and continue to closely monitor the benefits delivered by means of annual project reviews. The team will continue their engagement with industry and discussions across government to establish a long-term commitment to secure zero-emission vehicle manufacturing in the UK and improve the speed at which government provides support. |
| Whole Life Cost | £747.00m |
| WLCost text: | The project's departmental-agree Whole Life Cost at 22/23-Q4 is 747m. This is primarily due to the following factors. This was the capital funding awarded to the Automotive Transformation Fund at previous Spending Reviews. |
| Notes1: | |
| Notes2: | |
| Sourcefile | IPA_2023.csv |
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