Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, how much funding from the Automotive Transformation Fund (a) has been spent and (b) has been allocated for the spending review period to March 2025.

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

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.