Saturday 19th Aug 2017 - Logistics & Supply Chain

UK automotive industry given £45.5m boost

The government-backed Advanced Manufacturing Supply Chain Initiative (AMSCI) is awarding £45.5 million of funding to UK-based suppliers, in a bid to boost the UK automotive sector.

AMSCI is a funding competition run through the Department for Business, Innovation and Skills. It is designed to improve the global competitiveness of UK advanced manufacturing supply chains.

UK business secretary Vince Cable has now announced that the scheme has launched a new Long Term Advanced Supply Chain project, to provide funding for a four-year programme of support among 38 UK suppliers.

Submitted on behalf of the sector, the SMMT bid has delivered £13.3m in government funding, which leverages £32.2m of industry contributions.

The programme will offer help in research, development, skills training, and capital investment, and it set to create around 1,000 jobs throughout the UK supply chain.

It will focus on boosting the international competitiveness of UK automotive suppliers.

“The UK has a thriving UK automotive industry but we must continue to grow and develop our supply base,” said SMMT chief executive, Mike Hawes.

“This SMMT-driven programme will allow the supply chain to increase skills, R&D capability and manufacturing facilities, and will make UK-based companies more successful in competing for both local and overseas business.”

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