Business Secretary Kemi Badenoch recently visited Aston Martin’s headquarters in Warwickshire. During her visit, she engaged with apprentices and senior leaders, gaining insights into the company’s high-performance electrification strategy. This visit follows the Department for Business and Trade’s announcement of nearly £9 million in government funding through the Advanced Propulsion Centre (APC) to support Aston Martin’s EV technology. This investment is set to support over 2,500 local jobs and boost the local economy.
The project aims to accelerate the development of a luxury battery EV platform, contributing to the net-zero goal by focusing on vehicle light-weighting, a digital toolchain, and electrification training. Additionally, the Government is collaborating with the industry via the Automotive Transformation Fund (ATF) to secure investment in a globally competitive EV supply chain. The ATF has already achieved significant milestones, such as Tata’s commitment of over £4 billion to establish a new gigafactory in the UK. So far, offers made under the ATF are expected to attract over £6 billion in private investment.
This initiative follows previous significant investments, including £1 billion by Nissan and Envision AESC in Sunderland, £600 million by BMW to transform the Oxford MINI plant, £380 million by Ford in Halewood, £100 million in electric van production by Stellantis in Ellesmere Port, and £60 million by Johnson Matthey in Hertfordshire.
Kemi Badenoch expressed her admiration for Aston Martin, recognising it as one of the UK’s most renowned brands and successful exporters. She highlighted the Government’s commitment to the automotive sector through initiatives like the recent APC award to Aston Martin and others, ensuring high-quality jobs and investments across the UK. This support aims to develop a resilient and prosperous car industry for the future. Luxury brands like Aston Martin, which export 75-90 percent of their vehicles, are a unique strength in the UK’s auto sector.
During her visit, Badenoch commended Aston Martin for representing British luxury car exports globally and driving innovation in UK advanced engineering. Michael Straughan, Executive Consultant to Aston Martin’s CEO, expressed honour in hosting the Business Secretary and showcasing the potential of the UK’s luxury car industry. He emphasised Aston Martin’s pride in being an export-led business and its commitment to working with the government to maximise economic growth opportunities and support high-quality employment.
The importance of maintaining a competitive business environment to stimulate growth and productivity in UK manufacturing is crucial. The government is committed to decisive action to ensure future investment in zero-emission vehicle manufacturing. The UK has a strong track record of supporting the automotive sector through comprehensive programmes like the ATF, the APC, the Faraday Battery Challenge, and Driving the Electric Revolution. The APC works in collaboration with the UK Government, the automotive industry, and academia to accelerate the industrialisation of technologies, facilitating the transition to net-zero emission vehicles. Since its inception in 2013, the APC has funded 261 low-carbon projects involving 480 partners, helping to create or safeguard over 58,000 jobs in the UK. These projects are expected to save over 400 million tonnes of CO2, equivalent to removing the lifetime emissions of 16.1 million cars.
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