UK Car Industry Has Received Well-Timed Backing

In recent weeks the UK car industry has received athat the Japanese car manufacturer is spending
number of financial packages which are aimed at£420 million on building new zero-emission electric
trying to support the sector in the coming years.vehicles at its north-east plant.
Private and public sector money could amount toAround 50,000 Nissan Leafs will have rolled off the
£2.6 billion over five years which will safeguard jobsproduction line each year by 2013 and it is set to be
and also create new roles in the car industry.the first affordable, mass-produced electric car in the
The government has already implemented projects toworld. The government is backing the project by
try and support car manufacturing in the UK, with theinvesting more than £20 million in the scheme and it is
£400 million vehicle scrappage scheme helping out.also getting £197.3 million in funding from the
Car owners were able to trade in their old car for aEuropean Investment Bank.
new model and get £2,000 knocked off the askingAmerican car giant Ford is also bolstering the UK car
price for a limited time.industry with a £1.5 billion investment into developing
The scheme was a huge success and got a mentionresearch at its Essex facility.
in yesterday's Budget as one of the most positiveThe government will then make £380 million available
projects the government has implemented. Chancellorto Ford in the form of loans from its Automotive
Alistair Darling also mentioned the government'sAssistance programme.
involvement in persuading Nissan to develop its firstAnother automotive company which has benefited
electric car at its Sunderland site.from government support is Vauxhall, with a £270
There was some concern that once the scrappagemillion loan.
scheme ended the industry would suffer a slump, butIt is encouraging to see so many foreign
the new plans could negate that.manufacturers investing in the UK and hopefully that
Nissan is again helping out and the Guardian reportedwill bolster the car manufacturing industry.