British Car Industry Gets Financial Boost

Autocar Professional is reporting that Britain’s car manufacturing industry has received yet another financial boost with three major manufacturers announcing UK investments worth more than £1 billion  in the past six days.

Honda, Jaguar Land Rover and the London Taxi Company have each made announcements of funding to build new vehicle models, amounting to a total of £1.05 billion.

London Taxi Company

 

The latest announcements come on the back of a total of £7 billion committed in 2013 and 2014. The UK is seeing a renaissance in car production. In 2014, more than 1.5 million cars were produced – an increase of 50% since 2009, and the sector’s best performance since 2007.

The latest announcements include:

  • Jaguar Land Rover announces £600million new investment into its West Midlands operations, covering Castle Bromwich and Whitley sites.Coventry-based London Taxi Company reveals a £250 million investment – as well as the creation of 1,000 jobs – as it prepares for
  • Coventry-based London Taxi Company reveals a £250 million investment – as well as the creation of 1,000 jobs – as it prepares for production of a new range of ultra low emission taxis.
  • Honda unveils a £200 million spending plan with its Swindon plant to become the global production hub for the next-generation Honda Civic five-door.

See more and get the full story at: http://www.autocarpro.in/news-international/british-car-industry-gbp-billion-investments-8082

Staff

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