UK automotive sector welcomes industrial strategy and unveils ten-point plan for sector renewal
The UK automotive industry has pledged to build on the foundations laid by the government’s long-awaited Industrial Strategy with a 10-point plan to propel the UK back into the top 15 of global vehicle manufacturing locations by 2030.
Speaking at the industry’s annual Summit in London today, Mike Hawes, Chief Executive of the Society of Motor Manufacturers and Traders (SMMT) said: “We welcome the Government’s Industrial Strategy, a 10-year plan which answers our call for a long-term commitment to automotive manufacturing. With action to reduce electricity costs, upskill workers and unlock finance, it lays the foundation on which we can build our future. We now need to see the Strategy implemented and at pace, because competitors will move fast so our window of opportunity will not remain open for long.”
The strategy comes as a new SMMT report, The Competitive Edge: Driving Long-Term UK Automotive Growth, sets out a path to success.
The report charts the industry’s fundamental strengths and potential but also reveals low confidence in global trading conditions and doubts about the ability to meet net zero ambitions, amid rising costs and falling profitability.
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