Ricardo to open low carbon vehicle R&D centre
Engineering consultancy Ricardo is to establish a new £10million research and training facility for the development of next generation low carbon vehicles.
The Vehicle Emissions Research Centre (VERC) will be built at the company's site in Shoreham-by-Sea. It is being part funded under round three of the government's Regional Growth Fund, which is aimed at creating/safeguarding thousands of UK jobs.
"This cash injection for Ricardo is part of a major government drive to create and protect thousands of jobs that will last in the parts of the country where they're needed most," commented Deputy Prime Minister Nick Clegg.
"For too long the UK economy has been focused on the City of London, ignoring places where business can thrive. The Regional Growth Fund taps into that potential, so that places like Shoreham-by-Sea and the surrounding area can benefit."
