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European Investment Bank looking to bail out car manufacturers

It has been revealed that Jaguar Land Rover and Nissan could next week be in line for a £453 million funding package in relation to the development of green technology. The package will be underwritten by the UK government and is seen in many areas as a backhanded rescue funding programme for an under pressure sector. Experts are wondering why significant funding is being thrown towards green technology when these companies in line for the funding may not be around in the future.

While Jaguar Land Rover and Nissan are probably among the best placed car manufacturers in the UK there is no doubt that the sector is still reeling. Reduced business, reduced prices and debts mounting by the day have put paid to expansion plans with businesses now just happy to survive. The UK government has so far turned down requests for significant funding in the short to medium term but is the £453 million green technology just a cover for a rescue package?

There's no doubt that sector is in need of significant financial backing in the short to medium term otherwise we could see the UK sector depleted even further. So far we have yet to see a significant impact from the falling UK currency which should in due course induce significant export opportunities.

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