The BMW Group has today announced an additional £500 million investment in its UK production network over the next three years and confirmed that the UK will be a production location for its next generation MINI models.
The BMW Group chairman outlined his company’s plans for further investment at a meeting with Prime Minister David Cameron at Downing Street this morning.
The investment, the majority of which will be will be used to create new production facilities and equipment at MINI Plant Oxford, will help to safeguard over 5,000 jobs in the MINI vehicle assembly plant in Oxford, the pressings plant in Swindon and the company’s engine plant at Hams Hall near Birmingham.
Mr Cameron welcomed the investment as a “tremendous vote of confidence”:
“I welcome this major investment by BMW Group in UK manufacturing. The production and export of iconic British cars like the MINI is making a real contribution to the rebalancing of the economy that this government is determined to achieve.
“It’s a tremendous vote of confidence in the skills and capabilities of the company’s British workforce and in the future of UK manufacturing.
“The MINI plant in Oxford has been one of our great manufacturing success stories, they should be hugely proud of their achievements. They have shown once again that the UK is a major player in the global automotive industry.”
Mr Cameron also hosted a breakfast meeting with the board of directors of the European Automobile Manufacturer’s Association (ACEA) to discuss the growing confidence in the UK automotive industry. ACEA represents some of the biggest car, truck and bus manufacturers at European and this is the first time the board of directors has come to the UK.
The BMW Group announcement and ACEA meeting today follow news yesterday that Japanese car manufacturer Nissan plans to invest £192 million to build the next version of its Qashqai model in Britain.
Prime Minister’s Office
Number 10
Leave a Reply