Support pledged by the UK government could help the UK’s automotive sector expand its technical expertise, grow production, and attractive inward investment, an expert has said.
Ben Gardner of Pinsent Masons was commenting after the government said it would invest more than £2 billion to support the UK automotive industry between 2025 and 2030. The funding commitment is part of a wider package of support for UK manufacturing, with a further £975 million pledged for aerospace, £960m earmarked for a Green Industries Growth Accelerator to support clean energy manufacturing, and £520m set aside for life sciences manufacturing.
CT Automotive plc (LON:CTA) designs, develops and manufactures automotive interior finishes and complex kinematic assemblies for the most well-known automotive brands on the planet. These critical components are managed through an intricate global network of reactive supply chains to arrive JIT (Just in Time) at their respective OEM manufacturing plants.