BMW Groups on Thursday said that the company will invest another £500 million in its UK production network over the next three years and confirmed that the UK will be a production location for its next generation MINI models.
The automaker outlined his company’s plans for further investment at a meeting with Prime Minister David Cameron at Downing Street this morning. The investment, the majority of which will be will be used to create new production facilities and equipment at MINI Plant Oxford, will help to safeguard over 5, 000 jobs in the MINI vehicle assembly plant in Oxford, the pressings plant in Swindon and the company’s engine plant at Hams Hall near Birmingham.
In 2010 BMW Group has made 216,302 vehicles – and exported on more than 90 countries across the globe, MINI was the third-largest vehicle manufacturer in the UK, accounting for 17 per cent of national automotive production.
The UK is the BMW Group’s fourth-largest single market in the world for sales, behind only Germany, the US and China, with sales in 2010 across the BMW, MINI and Rolls-Royce brands totaling 154,750.
Prime Minister David Cameron said: “I welcome this major investment by BMW Group in UK manufacturing. The production and export of iconic British cars like the MINI is making a real contribution to the rebalancing of the economy that this government is determined to achieve.
The news comes just a month after the automaker announced that will invest about $1.4 billion US dollars to expand all its production lines in China.