SMMT statement on £4.5bn investment in UK strategic manufacturing

Friday 17 November, 2023

Mike Hawes, SMMT Chief Executive, said,

Today’s announcement is an unequivocal vote of confidence in the UK’s critical automotive industry. Coming on the back of almost £20 billion committed by the sector in next generation plants and technologies this year alone, it is indicative of the scale of investment such support can leverage and the result of substantial collaboration between Government and the industry.

This additional Government investment reflects the fact the UK automotive sector has the talent, the innovation and the determination necessary to thrive in the face of fierce global competition. It will deliver benefits not just for the automotive sector but for the whole country in terms of growth, high value jobs and productivity. It also sends a powerful signal that the UK is open for business.