The UK government’s £4.5bn initiative prioritises the automotive sector with over £2bn, signaling a green push. Nissan swiftly invests £2bn in three EV models.
The UK government has unveiled a £4.5bn funding initiative, with a keen focus on eight strategic sectors. Among them, the automotive industry is set to receive over £2bn in targeted investment, signalling a concerted effort to fortify the sector’s central role in the nation’s economic growth and its commitment to sustainability. The substantial allocation for the automotive industry comes with a clear directive: advance the manufacturing, supply chain and development of zero-emission vehicles.
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Building on the rising value of vehicle exports and components, the Indian government wants 50% of vehicles made in India to be exported by 2030.
After a period of downsizing or complete withdrawal by some foreign OEMs, investment in Indian production is on the rise again with the domestic vehicle makers leading the way.
The number of domestic vehicle manufacturers in China has increased rapidly in recent years. A few, notably BYD, Geely and Chery, have become significant global players,
