UK’s car industry now seeks to rebuild its diminished supply chain behind its auto business, targeting 15,000 new jobs and almost 200 new projects for the next three years period.
Vying for a “Made in Britain” auto boom, the country’s government has even appointed an automotive ambassador – tasked to tour the international car manufacturers, in search of rising support to continue the wave of investment that topped £6 billion over the past two years in the United Kingdom.
Local production went up 8% in 2012, compared to an 8% decline in Germany, and a 12% fall in France. Normally, at this pace, UK’s production could be twice that of 2009 by 2017, reaching 2 million cars a year.
“The goal is to maintain and extend this [investment] momentum,” said Joe Greenwell, the chief executive of the Automotive Investment Organization. “I want to remove reasons why people may not want to come here. We need to recapture and repatriate business that we lost in the past few decades, business that went elsewhere to places like western and eastern Europe and Asia. We want to get it back,” he added.
UK’s automotive renaissance is now entering stage two, with a focus on the supply chain, where the number of jobs easily outnumbers the ones in car plants. And a recent study found UK-based automakers are planning to source about 3 billion pounds in parts from British suppliers, a 10 % increase over the current levels.
Via Financial Times