Published on July 18th, 2013 | by Daniel Sherman Fernandez0
Bosch and UK Government will invest 1 billion pounds in engine research
The UK government, Bosch and some car manufacturers who have large operation in the UK will invest 1 billion pounds ($1.5 billion) in a research center to develop low-carbon technologies and help secure the jobs of 30,000 people working in the country’s car engine supply chain.
The government and a group of 27 firms including Jaguar Land Rover owner Tata Motors and component maker GKN will each invest 500 million pounds over the next decade in an Advanced Propulsion Centre. The center will look to research, develop and commercialize new propulsion technologies. Other companies backing the investment include BMW Group, Robert Bosch, Ford Motor Co., Caterpillar and Nissan Motor Co. Sixteen straight months of rising car sales in the UK are a rare bright spot for Europe’s recession-hit motor industry and the government aims to persuade more of the world’s top carmakers and automotive suppliers to base operations in Britain.
“The UK automotive sector has been incredibly successful in recent times, with billions of pounds of investment and new jobs,” Business Secretary Vince Cable said on Friday. “With the next generation of vehicles set to be powered by radically different technologies we need to maintain this momentum and act now.