A joint UK motor industry and government automotive
strategy has today committed to invest well over £1bn in additional funds over
the next 10 years to secure the growth and development of its vehicle and
component manufacturing sector.
This
new funding supports multi-billion pound investments announced in the last few
years by global automotive companies to boost production levels and develop new
technologies and models.
Developed
under the guidance of the Automotive Council guidance, both industry and
government will fund and resource investments in a range of projects including
the creation of an Advanced Propulsion Centre, thousands of new motor industry
apprenticeships and the creation of an Automotive Investment Organisation.
The
development of the strategy also sees the provision of finance for tooling
investments in the supply chain, and a renewed commitment to encourage the UK
as a lead market in the production and sale of low emission vehicles.
The
key elements of the strategy include:
● Technology - the creation
of an Advanced Propulsion Centre to support and enhance the UK’s expertise in
research and development.
● Inward investment - the
creation of the Automotive Investment Organisation to drive UK investment by
global automotive component companies.
● Skills - an industry
framework for skills and a skills roadmap, including the creation of 7,600
apprenticeships and 1,700 graduate opportunities in the automotive industry.
● Supply chain - driving
growth and competitiveness including creating a framework with suppliers,
vehicle manufacturers and banking organisations to solve the problem of
financing tooling investment.
● Low carbon - financial
support to encourage consumers into lower emission vehicles, and to grow
investment in the manufacture of low and ultra-low emissions vehicles and
components.
● Business environment -
establishing better cross-government relationships by including HM Treasury on
the Automotive Council to ensure the UK remains an attractive place to invest.
"The motor
industry is a major contributor to the UK economy and has been increasing that
contribution in a challenging economic environment. In partnership with
government, we have now developed a roadmap to secure further long-term
growth that is detailed in the strategy document launched today. Our goals
are to grow vehicle production and component supply with more investment, jobs
and advanced technology developed in the UK," said Mike Baunton, the SMMT’s
interim chief executive.
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