Economy

Business operations must evolve to ensure manufacturing continues to play a powerful role in the UK economy, according to a government report published today.

Last week (Thursday 24 October), a cross-party group of parliamentarians visited the McLaren Technology Centre in Woking where engineering skills were high on the agenda.

Five local authorities have been granted a total of £1.4 million to reduce emissions created by buses.

Last week, Matthew Hancock, Minister for Skills and Enterprise underlined the importance of attracting more young people into the automotive sector as Nissan hosted an event at SMMT’s headquarters to celebrate See Inside Manufacturing.

Based on data, which is preliminary in some cases, global demand for passenger vehicles increased 5.7% in September.

Cosworth has announced plans for a new £30 million manufacturing facility in Northampton, which will lead to the creation of around 70 jobs.

Toyota has launched a student placement scheme designed to draw young talent into its UK operations, covering its headquarters and two manufacturing plants.

SMMT has developed a series of supply chain events that will help UK-based suppliers to capitalise on the £3bn of product, service and technology supply requirements for the next generation of vehicles and engines being made in the UK.

SMMT is offering automotive suppliers a direct path to the financial sector at this year’s Meet the Funder event, which will take place on 24 October 2013 at Cranmore Park, Solihull.

A £4 million boost to the UK’s automotive sector has been announced today as the Business Growth Fund (BGF) invests in precision component company VTL.