Over £6 billion has been invested into the UK automotive industry over the last two years, with vehicle production continuing to rise recruiting close to 10,000 extra individuals solely from the manufacturer Ford.
A £10 million competition has been launched recently allowing businesses to develop innovative ideas for low emission cars that will eventually compete with the generic oil or gas powered vehicles. This has been sparked by a £500 subsidy given to the Advanced Propulsion Centre, (research facility) announced by Vince Cable the Business Secretary.
The research centre has already generated interest from leading manufacturers such as Ford, Nissan and BMW who claim to “actively explore potential for the investment in the centre”.
The guarantee of interest from such companies would secure the 30,000 jobs currently in association with the production of engines, with the expected outlook of traditional fuelled engines to disappear by 2040.
Prof Richard Parry-Jones, co chair of the automotive council stated that enforcing a new industrial strategy was “critical to sustaining and growing a thriving UK automotive sector in a highly competitive global industry”.
The incentive is thought to encourage certain commercial and investment opportunities into the UK car industry. It is aimed to target solely the technology for everyday cars that are comparable in price to the conventional car in order to ensure the “next generation of low emission vehicles” are affordable and they would be how to save money every month and would lead to the UK contributing majorly to the ultra low emission vehicle.