Ford has announced a £230 million investment into its Halewood car plant, which will be set up to manufacture electric car parts. By doing so, it will safeguard around 500 jobs. This is seen as a huge boost for Merseyside’s local economy and Ford is showing they are going to be major players in the electric car market.
Previously there had been speculation that the future of the Halewood plant was looking rather bleak but Ford has now decided to push ahead in electrifying their cars. The president of Ford Europe, Stuart Rowley stated the investment will mean the plant will run for many years longer.
Part of the funding will come from the UK government’s Automotive Transformation Fund, which was also announced by Mr. Rowley, “we’re really pleased with the support from the UK government.” The exact amount given by the government will not be disclosed by Ford, but it is suggested by some that it’s quite a significant investment funding.
The support given by the UK government is also what led to Ford’s long-term commitment to the Halewood plant in Merseyside.
Ford now plans to begin the manufacturing of electric power plants in Halewood by 2024, and these will replace the engines and transmission in their petrol cars.
Unfortunately, there have been some casualties with Ford in the UK with closures at its engine plant in Bridgend, a total of 1,700 job losses.
UK government funding
The Automotive Transformation Fund set up by the UK government has also played a role in the Japanese car giant Nissan who pledged a whopping £1 billion investment into its Sunderland plant for the production of electric vehicles. This massive investment will create a total of 1,650 new jobs and plans are for the manufacturing of its fully electric vehicles as a part of the investment.
Business Secretary Kwasi Kwarteng said the Ford decision was “further proof that the UK remains one of the best locations in the world for high-quality automotive manufacturing”.
He also stated, “In this highly competitive, global race to secure electric vehicle manufacturing, our priority is to ensure the UK reaps the benefits,”
The future is still bright
With all the gloom and doom currently plaguing the world and the UK industry, there is still hope on the horizon that normal life is starting to become increasingly likely within the next two years, and these long-term investments are showing this trend.
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