£1 billion investment in UK’s automotive industry announced
July 15, 2013
The UK government and automotive industry have announced plans to invest £500 million each over the next ten years in an Advanced Propulsion Centre (APC) to research, develop and commercialise technologies for vehicles of the future.
The project includes some 27 companies in the automotive sector and includes part manufacturers such as GKN and Mahle along with car makers such as Ford and BMW. The commitment is expected to secure at least 30,000 jobs currently linked to producing engines and create many more in the supply chain.
The announcement forms part of the government’s industrial strategy for growth and sustainability in the UK automotive sector and follows the recent plans for construction, aerospace and other key sectors to secure sustainable future growth in the UK economy.
“The UK automotive sector has been incredibly successful in recent times, with billions of pounds of investment and new jobs. This has been achieved by government and industry working together,” stated Business Secretary Vince Cable. “With the next generation of vehicles set to be powered by radically different technologies we need to maintain this momentum and act now. Our industrial strategy will ensure we keep on working together to make our automotive industry a world leader.”
“GKN has fully played its part in the creation of the Automotive Industrial Strategy but more importantly will continue to support the initiative through the delivery phase, ensuring that the UK remains at the forefront of the global automotive industry,” added Nigel Stein, Chief Executive, GKN plc.
The 27 companies backing the Advanced Propulsion Centre are: Bentley, BMW Group, Bosch, BP, Castrol InnoVentures, Caterpillar, Ford, GKN plc, High Value Manufacturing Catapult, Intelligent Energy, JCB, JLR, Lotus, MAHLE Powertrain, McLaren, Millbrook Proving Ground, MIRA, Morgan, Nissan, Optare, Productiv, RDM Ltd, Ricardo, SMMT, Tata Motors, Transport Systems Catapult Ltd, and West Midlands Manufacturing Consortium Ltd.
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