- 2 updates
News of a £1 billion investment in the motor industry has been welcomed by companies across our region today.
Britain's motor business supports more than 700,000 jobs, with Vauxhall in Luton alone employing nearly two thousand people.
With the East home to manufacturing plants, high tech engineering companies and 3 Formula One teams, it's hoped the money will help create long-term economic security. Serena Sandhu reports.
£1 billion is to be spent on developing a new generation of car engines aimed at improving fuel efficiency and reducing carbon emissions.
Business Secretary Vince Cable is at Ford's research centre at Basildon in Essex today to announce joint government and industry funding for the work. It's expected the project could secure 30,000 UK jobs linked to producing engines.