Major BMW EV announcement to take UK auto investment to over £6bn
BMW are set to announce a multi-million-pound investment in their Oxford MINI plant, which will take investment in the UK automotive sector to over £6 billion
- BMW set to announce multi-million pound investment in the UK, in latest major vote of confidence in UK Government plans for the car industry.
- Announcement brings total investment into the automotive sector to over £6bn in recent years, securing jobs and promoting economic growth.
- Other major investments include over £4bn from Tata to build a new gigafactory in the UK, and £1bn from Nissan and AESC to create an EV manufacturing hub in Sunderland.
Ahead of a visit to the MINI plant in Oxford, Business and Trade Secretary Kemi Badenoch has today (11 September) hailed the success of the UK Government’s plan for automotive, as the sector looks ahead to a bright future thanks to over £6 billion of investment over the last two years.
This comes as BMW are set to announce a multi-million pound investment to transform their Oxford plant, securing 4,000 high-quality jobs and strengthening the electric vehicle supply chain. The news follows extensive government engagement and support.
The Government is securing investment from industry by providing support for new plants and upgrades to ensure that the UK automotive industry thrives long into the future.
Last week Stellantis, makers of Vauxhall, Peugeot, Citroen and Fiat, announced the start of electric vehicle production after their £100m investment to make their site in Ellesmere Port their first globally dedicated solely to producing EVs.
Other recent major investments also include a landmark investment of over £4 billion from Tata to build a new gigafactory supplying batteries, £1 billion from Nissan and AESC to create an EV manufacturing hub in Sunderland, and £380 million from Ford to make Halewood their first EV components site in Europe.
Prime Minister Rishi Sunak said:
"BMW’s investment is another shining example of how the UK is the best place to build cars of the future.
"By backing our car manufacturing industry, we are securing thousands of jobs and growing our economy right across the country."
Business and Trade Secretary Kemi Badenoch said:
"Today’s announcement by BMW, coming a week after electric vehicle production started at Stellantis’s site at Ellesmere Port, clearly shows that the Government’s plan for the automotive sector is working.
"Working in partnership with the car industry, we are securing high-quality jobs and investment and boosting economic growth.
"The total investment in the UK automotive sector is set to reach over £6bn in just the last two years, ensuring our car industry can look ahead to a bright and successful future under this Government."
Chancellor of the Exchequer Jeremy Hunt said:
"The UK has a proud history of manufacturing and BMW’s investment is a huge vote of confidence in this country as a global leader in electric vehicles.
"And following Stellantis beginning electric vehicle production at Ellesmere Port, just last week, to Tata’s gigafactory, this industry is motoring, creating thousands of jobs and powering our green transition."
There is a longstanding and comprehensive programme of support for the UK automotive sector, including the Advanced Propulsion Centre, the Automotive Transformation Fund, Faraday Battery Challenge and Driving the Electric Revolution.
Just last week, the Government announced that over £50 million of government funding has been awarded to 30 cutting-edge manufacturing projects including rapid-charging motorcycles and self-driving cars, cementing the UK as one of the best locations in the world to manufacture.
The Government is committed to the future of UK manufacturing, maintaining a competitive business environment and reducing the burden on business.
The manufacturing sector plays a vital role in the UK’s economy and the Chancellor has identified advanced manufacturing as one of five key growth sectors.