08:28 15 July 2013
The UK government, together with 27 auto industry companies which include Ford, Nissan, and Tat Motors, are to invest £1billion to build an advanced propulsion centre in the county with the aim to research and develop less polluting, low-carbon engines.
For the past two years, the initiative has received £6billion of inward investments. The government said that this could secure at least 30,000 jobs and many create many more.
Business Secretary Vince Cable said: "The UK automotive sector has been incredibly successful in recent times, with billions of pounds of investment and new jobs.”
"This has been achieved by government and industry working together."
Mr Cable announced in June the setting up of the Automotive Investment Organisation, a body responsible to attract inward investment into the sector. The government confirmed that foreign direct investment has so far created 7,500 jobs for the last three years and that it aims to double the figure in the next three years.
The launching of a £10billion competition, which aims to encourage low-carbon vehicle, was also announced by the government.
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