UK automotive is a leading global player in the development of low and ultra-low carbon technologies. Industry attracts more than £1.3 billion annually in research and development investment driving the low carbon agenda.
More than £150 billion will be invested in low carbon vehicle technologies in the UK over the next 20 years. The UK automotive sector benefits enormously from government, industry and academia working in close collaboration sharing a common strategic vision and clear R&D technology investment priorities.
The UK offers an excellent base for inward investors looking to establish manufacturing operations in the heart of a vibrant European economy.
Government policy and corporate taxation are favourable to industrial manufacturing and the UK outperforms every country in Europe by attracting the most Foreign Direct Investment (FDI). Globally the UK is second only to the US for FDI.
These benefits have already appealed to many global car-makers and the UK counts seven volume car makers and eight commercial vehicle manufacturers in its roster of automotive business.
And today’s coalition government is continuing a pro-business and pro-enterprise approach to driving growth in UK industry, through the Department for Business, Innovation and Skills (BIS). In addition, the government organisation that deals with inward investment, UK Trade and Investment (UKTI), has offices in 33 key overseas markets, as well as the UK, and is ready to work with any overseas company that is looking to bring high value investment in the automotive sector to the UK.