US$200M in funding for research into electric vehicles, smart homes, smart cities

The United States is offering up to US$1.2 billion in public and private funding for a new research and development effort aimed at helping the U.S. economy move toward electrification and creating jobs.

The U.K.’s Ministry of Defense said the new initiative, called the Smart Cities Initiative, will aim to build upon a program started in 2015 to support electric vehicles.

The goal is to create 100,000 jobs by 2020, the U,K.’ s Ministry of Defence said in a statement.

The Smart Cities initiative aims to create “100,000 electric vehicle-ready jobs by the end of the decade,” the ministry said.

The plan would provide a $1.3 billion investment to support “research and development to provide the next generation of high-speed charging infrastructure for the electric vehicle market.”

It will also aim to “help accelerate the development of battery storage and electric vehicle chargers.”