UK government secures £1.5 billion Ford investment
Only days after the UK government agreed to guarantee £360 million of a £450 million loan application from Ford to the European Investment Bank, it has been revealed that Ford will be investing £1.5 billion into four new facilities in the UK over the next five years. It is the fact that the new operations will focus upon green engine energy technology and the reduction of harmful emissions from vehicles that is likely to swing the £450 million European investment bank loan at a time when the UK government is looking to attract more investors to the UK.
Despite the fact that green engine technology and in general greener vehicles have yet to reach takeoff in UK there has been significant investment over the last decade. This investment is likely to pay dividends in the short to medium term and the fact that up to 100,000 direct and indirect jobs will be created is also central to the UK government's loan guarantee. There are also hopes that other prominent car manufacturers around the world will look towards the UK for their environmentally friendly operations in the knowledge that the UK government is happy to finance at least part of any new investment.
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