UK Motor Industry
The united kingdom automotive business generated incomes of £60 billion in 2013. 11 significant vehicle manufacturers and 18 of this world’s top 20 manufacturers towards the automotive business have operations in britain. You can find big investment options for international investors and a lot of assistance offered by industry and federal government.
2. Offer sequence
The increase within the wide range of first Equipment brands (OEMs), has created options for companies to purchase the supply chain.
UK vehicle and motor makers invested £31 billion on components last year. OEMs wish to source around £3 billion more components in the UK and predicted development in car and engine production means interest in components from British.
As a result, there will be new opportunities for companies to enter the UK’s automotive supply sequence.
3. Research and Development (R&D)
The UK’s universities and analysis centers spent £1.7 billion on automotive relevant R&D in 2012. Building low-carbon technologies is a study location sustained by:
Work is also sustained by £250 million of federal government capital in study centres called Catapults. They aim to quicken the introduction of brand-new and growing technologies into the market. They've been assisted by additional private industry resources and organizations working collectively on R&D jobs.
4. Exporting from the UK
Great britain is an ideal area to export services and products overseas. There clearly was an ever growing interest in British automotive items across the world, plus £3 billion need in the united kingdom with perhaps not been met yet.
The UK exported 81% of cars it stated in 2012 and 49percent of those were exported outside Europe. China, Russia as well as the US make-up 28percent of British automobile exports.
British motorsport leads the whole world and it is increasingly relevant to the commercial automotive industry.
In 2014 you will have 19 Formula 1 (F1) events across five continents. 8 from 11 F1 groups tend to be situated in great britain. They are:
- Red Bull - Milton Keynes, Buckinghamshire
- McLaren - Woking, Surrey
- Mercedes - Brackley, Northamptonshire
- Lotus - Enstone, Oxfordshire
- Williams - Grove, Oxfordshire
- Power Asia - Silverstone, Northamptonshire
- Marussia - Banbury, Oxfordshire
- Caterham - Leafield, Oxfordshire
7. Automotive Investment Organization (AIO)
The Automotive Investment organization (AIO) aims to help increase investment in britain automotive industry. The organization is led by Joe Greenwell, former Chairman of Ford of Britain and Chairman and CEO of Jaguar Land Rover. The AIO brings automotive industry expertise into government.
The Automotive Council works together with the AIO. The council’s members consist of all the significant OEMs running inside UK, vendors and some government divisions.
You can find different areas over the UK generally Enterprise areas that provide investors bonuses to find on their own here including:
- decreased fees
- easier planning guidelines
- monetary advantages
Numerous Enterprise areas have employment groups, where companies from the same industry can be found in the same zones.