The region will cement its status as the car-making capital of
the UK under an automotive support package announced today by
, Mayor of the West
Midlands.
Match funded grants are being made available to
help businesses capitalise
on new opportunities in fast-growing electric
vehicle supply chains.
From today, suppliers can apply for a share
of the £50million West Midlands Supplier
Readiness and Transformation Fund and put themselves in
pole position to win new contracts, create hundreds of
new skilled jobs and protect thousands
more.
Companies manufacturing parts and components,
delivering specialist services or providing technical expertise
to the automotive sector will be eligible for
funding. They will be able to use it to invest
in new equipment, skills and production capacity.
This is one of two regions to secure government investment and it
will unlock a further £50milion from the private
sector.
The Mayor said: The West Midlands is still the engine room of the
UK motor industry. It's one of our great economic strengths and
why I put it at the heart of my Growth Plan to create skilled
jobs with higher wages.
This is a big investment by government because it knows how
crucial the success of our region's automotive sector is to the
wider UK economy. It will help secure that success and make sure
our manufacturers, suppliers and innovators stay ahead as the
global market moves ever faster towards electrification.
The West Midlands has one of the UK's largest automotive sectors
with 1,000 companies employing more than 46,000
people developing state-of-the-art EV and battery
technology, making cars,
parts, and engine components.
The West Midlands Supplier Readiness and Transformation Fund is a
four-year programme run by the West Midlands Combined Authority
and funded through the government's DRIVE35 initiative.
Industry Minister said: Throughour
Modern Industrial Strategywe'redelivering £4 billion intozero
emission vehicle manufacturing, marking the biggest investment
into the car industry since the post-war era and driving economic
growth and innovation across the country.
Strengthening supply chain resilience is paramount, which is why
we're investing £100million in the West Midlands and North East
to electrify manufacturing, boosting supply chains and securing
jobs in local communities.
The Mayor formally opened up the fund to applications in a
speech today at the Advanced Propulsion Centre, based at the
University of Warwick.
The centre is jointly funded by the Department for Business
and Trade and the automotive industry to drive research
and investment in zero-emission vehicle
manufacturing.
ProfessorDavid Greenwood,CEO of the High Value Manufacturing
Catapult and director for industrial engagement at Warwick
Manufacturing Group (WMG), University of Warwick, has backed the
funding.
He said: With this announcement, following soon after the
launch of the £50M Local Innovation Partnerships Fund, and
aligned with investments in the Coventry and Warwick Investment
Zone, the West Midlands is now in a much stronger position to
deliver its regional growth plan and in doing so, to support the
UK Industrial Strategy for the automotive sector.
The Mayor is also supporting the EV sector with other
significant WMCA funding including:
- £23m for a battery manufacturing and technology hub at the
Coventry & Warwickshire Investment Zone site
- Another 10,000 publicly accessible EV charging
connection points including a network of ultra-rapid filling'
stations
- Rollout of a zero-emission bus fleet
