Government backing for new greener Land Rover model
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Issued Date: 11 Mar 2009
Business Secretary Lord Mandelson today announced that up to
£27 million of Government support will be made available to Jaguar Land
Rover for the production of an all-new car based on Land Rover's LRX
Concept.
Jaguar Land Rover is looking to invest some £400 million in
the project that would help safeguard jobs and lead to the production
of a new greener model.
The government is supporting the project with up to £27
million under the Grant for Business Investment scheme. This is
separate from the £2.3 billion Automotive Assistance Programme being
discussed today at a Government seminar for manufacturers and supply
chain companies.
The vehicle would be designed, developed and produced in the
UK, securing production and employment at the company's Halewood
facility, where it would be built.
Business Secretary Peter Mandelson said:
"The Government is fully committed to supporting the UK
automotive industry as it moves to a lower carbon future. This project
aims to design and build a greener car in the UK, safeguarding vital
skills and technologies.
"The project would secure production and employment at the
Halewood facility and maintain the design capability for Jaguar Land
Rover in the UK. This is an important investment for the future and we
are delighted to be able to offer this grant support."
Note:
1. The Industrial Development Advisory Board (IDAB) is
appointed under Section 10 of the Industrial Development Act 1982. It
provides independent advice to Ministers in BERR on applications from
companies who are proposing to undertake capital investment projects in
the Assisted Areas in England and have applied for financial assistance
under the Grant for Business Investment (GBI) scheme.
2. This grant is subject to approval from the European
Commission. Government officials will now be working closely on this
with the EC.
3. The company hopes to launch the car in 2011 and it will be
far more fuel and CO2 efficient. It will offer innovative greener
stop-start capabilities while a future hybrid version will deliver
around 120g/km.
4. The Grant for Business Investment scheme is part of
Solutions for Business, the government's streamlined portfolio of
business support products accessible via Business Link.
About the Author
© Crown Copyright. Material taken
from the BERR- Department for Business, Enterprise and Regulatory
Reform replacing DTI - Department for Trade and Industry. Reproduced
under the terms and conditions of the Click-Use Licence.
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Article Published/Sorted/Amended on Scopulus 2009-03-13 12:20:57 in Economic Articles
