Click above for a gallery of the Axon Hatchback

We've been following Axon Automotive for the last few years, and the last we heard, the company was hoping to enter the Automotive X-Prize. According to new reports, the budding automaker has just received over £2 million from the UK government's Technology Strategy Board. More money has rolled in from a technology development firm called TTP and one other unnamed investor. The Axon concept is innovative in its use of high technology construction techniques that allow for an extremely light weight. This low weight helps the Axon achieve acceptable performance with a small .5L engine.

Chief among its features is a chassis that's made from recycled carbon fiber braided around a foam core. This allows for a unit that weighs 60 percent less than steel but is equally as strong. This technology is said to be adaptable to any type of vehicle design and the company hopes its next model will feature a plug-in hybrid drivetrain.

[Source: Channel 4]

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