Currently reading: Government outlines more than £2bn investment in UK car industry
New Advanced Manufacturing Plan aims to boost country's zero-emission vehicle and battery production industries

The UK government has outlined more than £2 billion of investment for the automotive industry, which forms part of a new Advanced Manufacturing Plan.

The investment was first outlined by chancellor Jeremy Hunt in his Autumn Statement recently, and details have now been given with the publication of the full plan. It includes around £4.5bn of total investment in the “UK’s world-leading manufacturing industries”, including automotive, aerospace, clean energy and life sciences.

The government claims that every £1 it invests in the future of manufacturing will build on £5 of additional private sector investment. The £4.5bn total will be invested between 2025 and 2030.

The £2bn assigned to automotive builds on a number of existing schemes, and includes grants for both R&D and for scaling-up businesses through a new programme called Auto2030, with up to £50 million to develop the UK’s battery industry.

Register for free to access this article
  • Instant access to all Autocar Business news
  • Regular email newsletters
See all benefits here