UK automotive industry agrees £1 billion investment plan
The UK government has agreed to match automotive industry investment of £500 million, resulting in a £1 billion 10 year automotive investment plant designed 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. And when the term “automotive industry” is used it includes original equipment components such as tyres, with the full report pointing out tyre plants in Northern Ireland and Scotland as the wider British impact the investment programme is likely to have.