UK Government and Automakers Invest 1B Pounds in Engine Research image

The UK government and auto industry will make an investment of 1 billion pounds in a research center which will develop low-carbon technologies and give 30,000 people a secure job.

The UK government and 27 companies, among which Tata Motors, oil major BP, Bosch, Ford, Caterpillar, Nissan, BMW and component maker GKN, will invest each 500 million pounds in the following 10 years in an Advanced Propulsion Centre which will research, develop and also commercialize low-carbon technologies. The UK has seen 16 consecutive months of vehicle increases, a bright spot in the crisis hit European market.

“The UK automotive sector has been incredibly successful in recent times, with billions of pounds of investment and new jobs,” Business Secretary Vince Cable said on Friday. “With the next generation of vehicles set to be powered by radically different technologies we need to maintain this momentum and act now.”

June auto sales marked the 16th straight month of growth in the UK, up 13.4% to 215,000 units. The increase was brought mainly by strong demand from private customers. From January to June private sales jumped 17.1%. The best selling model so far this year in the UK is the Ford Fiesta, Followed by the Focus and the Vauxhaul Corsa.

Source: Reuters