British motor industry parts suppliers are planning £225million of new investment over the next three years in next three years – averaging £674,000 per firm, says a poll of more than 100 firms by SMMT. It will boost the domestic content of vehicles built in the UK and create many more thousands of new jobs, say motor chiefs. Some 78,000 people are currently employed by UK automotive suppliers alone. And seven out of 10 (68 per cent) supply companies say they plan to expand their workforce to create more UK jobs
Launched ahead of the Brexit vote, the SMMT report said the investment expansion depended on ‘continued political and economic stability and the long term growth of the UK automotive sector’
And could be put it at risk by ‘uncertainty’ if the UK left the EU.
The research coincided with the opening of the first ever ‘Automechanika’ trade show at Birmingham’s National Exhibition Centre.