£1.5bn support for Ford
1 min read
Almost lost in last week's media frenzy over the decision by Nissan to make its electric-powered Leaf model in Sunderland came news that the government is to support six projects worth more than £1.5 billion across four Ford sites; an investment that will safeguard the jobs of around 2,800 skilled workers.
The government has agreed to back Ford's proposed £1.5 billion investment over five years for development of a new generation of environmentally friendly engines and vehicle technologies.
The Government is to provide £360 million in loan guarantees towards six projects through its Automotive Assistance Programme (AAP). The guarantee will back a proposed loan of £450 million which is being considered by the European Investment Bank (EIB).
Ford's plans will safeguard around 2,800 skilled jobs in the UK at its research and development centre at Dunton in Essex as well as its manufacturing plants in Dagenham, Southampton and Bridgend in South Wales. Ford currently provides 29 per cent of the UK's automotive sector research and development.
The projects to be supported cover research and development for Ford's commercial vehicles such as the Transit and Connect vans (pictured) and the development of low carbon emission diesel and petrol engines. This includes investment in production facilities for new lower carbon engines in Bridgend which was also supported by the Welsh Assembly Government last year. Currently 25 per cent of all Ford engines worldwide and over 50 per cent of all Ford diesel engines are made in the UK.
