SMMT supply chain firms plan significant investment to boost British content of UK-built cars
Published on Tuesday, 14 June 2016
Figures released this week show a planned £225 million investment by SMMT supply chain members over the next three years, as efforts continue to boost the British content of vehicles built in the UK.
In a new survey of more than 100 SMMT supply chain member companies, 94% said they plan to invest in their businesses over the next three years – at a total of £224,485,000. Of those, four in five (79%) intend to invest in plant, machinery or tooling; three quarters (73%) in skills and apprentices; and two thirds (66%) in new product development.
78,000 people are currently employed in the UK automotive supply sector, and seven in 10 companies (68%) said they plan to expand their workforce over the next three years. Potential investment does depend, however, on continued political and economic stability and the long term growth of the UK automotive sector.
For more information see the SMMT website.