UK innovators are to receive more than £300 million of investment to develop cleaner and greener forms of transport.

The Government will provide £125 million, which will be supported by industry co-investment of up to £175 million to support new technologies including flying urban taxis, electric passenger planes and even freight-carrying drones.

The announcement was made as Prime Minister Boris Johnson headed to the G7 Summit in Biarritz to urge “greater action to tackle climate change and protect the environment for future generations”.

Alongside this, five new transport research networks will receive a £5 million cash injection for their work developing cleaner forms of fuel and other technological innovations to reduce emissions and improve air quality.

These networks will be led by: the University of Birmingham, the University of Leeds, the University of Durham, Cardiff University and University College London.

The Prime Minister said: “From our shopping choices to planning our holidays, we rightly want to make decisions that protect the planet.

“This £300 million investment will help speed up the development of greener flights and new ways of delivering thegoods we order online.

"The UK is already recognised around the world as a centre for green tech. Now we will lengthen our lead, helping our industry and our citizens to reduce their carbon footprint.”

Transport Secretary Grant Shapps said: “New technologies like electric and autonomous aircraft can help us tackle climate change, making journeys greener and working better for passengers.

"This funding will support the extraordinary talents of UK industry and academia, and demonstrate our country’s position as a world-leading transport innovator.”