Honda has announced an investment of £267 million into new models and engines at its UK manufacturing plant. The investment is the largest single injection into the Swindon base in over a decade.
The investment has been made to underpin production of the new Honda CR-V, the Civic and a new 1.6-litre diesel engine coming in December this year. Honda says its 2012 production is predicted to reach 183,000 units, double last year’s. Around 60 per cent of the production is slated for export to more than 60 countries, with markets including Europe, Africa and the Middle East.
Business Secretary Vince Cable visits the factory today. He said: "The investment supports the government's ambition to encourage new investment and exports as a route to renewed growth and a more balanced economy."
Honda says the investment programme “reaffirms” the Swindon plant's position as the “cornerstone” of its European operations. The firm has recruited 500 new staff this year to work on the new models and engine line, creating a total workforce of 3500.