7:36 am, March 31, 2015
IT’S boom time for the manufacturing industry in the UK. It has received another huge boost with three major manufacturers announcing investments worth more than £1 billion.
Honda, Jaguar Land Rover and the London Taxi Company has each made an announcement of funding to build new vehicle models, amounting to a total of £1.05bn.
The latest announcements, which come on the back of a total of £7bn committed in 2013 and 2014, are yet more evidence of the continuing renaissance in UK car production. In 2014, more than 1.5 million cars were produced in the UK – an increase of 50 per cent since 2009, and the sector’s best performance since 2007.
The latest announcements include:
March 26: Jaguar Land Rover announces £600m new investment into its West Midlands operations, covering Castle Bromwich and Whitley sites.
March 26: Coventry-based London Taxi Company reveals a £250m investment – as well as the creation of 1,000 jobs – as it prepares for production of a new range of ultra-low emission taxis.
March 31: Honda unveils a £200m spending plan with its Swindon plant to become the global production hub for the next-generation Honda Civic five-door.
Mike Hawes, the chief executive of SMMT, said: ‘It has been a fantastic week for UK automotive, with more than £1bn earmarked by vehicle manufacturers for new model production that will drive further growth for the sector.
‘Honda’s decision to build its next generation Honda Civic, a global car in an important and growing segment, here in the UK caps off a record six days – the first time three manufacturers have announced nine-figure investments over such a short period of time.’
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