Tuesday, 13 Jul 2010
“A new generation of low-emission engines and more fuel-efficient vehicles will develop new skills and innovation across the United Kingdom, and these new vehicles will make a significant contribution to combating climate change.”
Simon Brooks
European Investment Bank (EIB) Vice President
Image of car doors on a production line
Ford to invest £1.5 billion in low carbon technologies
Low carbon
Read more about the UK’s low carbon capabilities
The vehicle technologies will be developed at Ford’s manufacturing plants in Dagenham, Southampton and Bridgend. Ford’s technical centre in Dunton, Essex, will also be key to the work and was visited by Business Minister Mark Prisk and European Investment Bank (EIB) Vice President Simon Brooks.
The vehicle technologies will be developed at Ford’s manufacturing plants in Dagenham, Southampton and Bridgend. Ford’s technical centre in Dunton, Essex, will also be key to the work and was visited by Business Minister Mark Prisk and European Investment Bank (EIB) Vice President Simon Brooks.
Mr Brooks said: “The EIB is pleased to support Ford’s cutting-edge engine research and development in Dunton and Dagenham and the company’s upgrading of manufacturing operations in Bridgend, Southampton and Dagenham, in particular through the European Clean Transport Facility.
“A new generation of low-emission engines and more fuel-efficient vehicles will develop new skills and innovation across the United Kingdom, and these new vehicles will make a significant contribution to combating climate change.”
The EIB Vice President and Mr Prisk toured the laboratories where engineers put vehicles through rigorous testing, including extreme climates and crash simulators.
Mr Prisk said: “Ford has an impressive track record in research and development. Its investment of £1.5 billion over the next five years is a great opportunity to take the lead in developing low carbon manufacturing.”
The Government is providing a £360 million loan guarantee for Ford’s £450 million loan from the EIB.
Ford of Britain Chairman Joe Greenwell, said: “This EIB loan, and the loan guarantee from the UK Government, will help to unlock up to £1.5 billion in low-carbon and environmentally friendly engine and vehicle technology investment over the next five years. This is a testament to the skills and capabilities of our UK workforce and demonstrates the scale of our commitment to Britain.”
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