By Max Clarke
Business Secretary Vince Cable today arrived in ‘Motor City’, Detroit, to engage in talks with two of the US’ most influential car companies; Ford and General Motors.
The talks will be aimed at strengthening the enduring trade and investment ties between the two countries.
A third of all Ford cars sold globally have an engine that has been built in the UK, and the company has committed to a £1.5 billion spend on low CO2 technology here. And General Motors has now announced that its next generation Vivaro van will be built in the UK, securing thousands of domestic jobs.
“The US is one of our most important trading partners,”
said Cable, “and our investment in each others’ economies is over £400 billion. I am keen to reaffirm this commitment through this visit, and I hope to find many more ways of working together in the future.
“Both our countries value the automotive sector very highly, so it clearly presents great opportunities for us. In the UK alone, car firms employ more than one in ten of all manufacturing employees.
“This is clearly a competitive market, but I believe that the UK can provide the right environment for manufacturers to succeed and grow. The Government is determined that it will remain so.”
UK-based companies are integral to the supply chain of auto-components in Detroit. This makes them an important investment partner for US firms, with a lot to offer the economy at large.
The auto sector remains a core plank of the UK economy, with plans for the country to become a world leader in low and ultra-low carbon vehicles. The technologies to support this are one of the Government’s main areas for growth, and feature heavily in UKTI’s [spell out] recently published five-year strategy.
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