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Government partnership with the automotive industry has created or protected 15,000 jobs and attracted over £1 billion of foreign investment.
The government’s partnership with the automotive industry, the Automotive Investment Organisation (AIO), has created or protected 15,000 jobs in the auto sector 3 months ahead of its March 2016 target. Since the AIO was established in June 2013, the AIO has attracted over £1 billion of foreign investment into the UK auto sector and supported over 250 projects.
The AIO has created a network of leading industry professionals and government expertise to identify specific growth opportunities in the UK automotive supply chain. As a result, the amount of British-made components being used by car manufacturers in the UK has increased to 41% in 2015, from 36% in 2011.
Business Secretary Sajid Javid said:
Our diverse auto sector, which covers everything from car manufacturers to tractor spare parts, is one of the shining lights of our economy and we have been particularly successful at exporting high-value, high-technology vehicles all over the world.
Government can help suppliers and manufacturers engage directly with potential buyers and investors across the globe, but the job creation and growth we have seen in the auto sector is ultimately testament to the innovation of our firms and the skills of their workforce.
Specific investments the AIO helped achieve include: