British automotive firms have spoken out about why remaining in Europe matters to their businesses in a series of case studies published by the Society of Motor Manufacturers and Traders.
Entitled Voices on Europe, it features six companies from across a broad spectrum of the automotive sector, all driving technological innovation.
They range from research and product testing houses to mechanical engineering firms, specialist component manufacturers and bio-fuel companies, with operations across the UK.
The firms include Allied Vehicles (Glasgow), Gasrec (London), Magal Engineering (Reading), HORIBA MIRA (Nuneaton), Nifco (Stockton-on-Tees) and Penny Hydraulics (Chesterfield). Each study gives tangible examples of how Britain’s EU membership has helped British business to grow.
In a 2014 survey of SMMT members, 92% said remaining in a reformed European Union would be best for their company, while more than three quarters stated that withdrawal could have a negative impact on the size and diversity of foreign investment the UK currently enjoys.
Respondents cited access to funding, the ability to shape technical rules affecting vehicle development, access to the single market and access to talent via the free movement of labour within Europe as reasons to remain.
About 92% of respondents to a 2014 SMMT member survey said they believed staying in the EU would be best for business, while 75% worried that leaving the EU would have a negative impact on the size and diversity of foreign investment into UK businesses.
Unrestricted access to the single market, access to funding and Europe’s flexible labour market are all benefits to the industry.
The UK’s EU membership also crucially provides the chance to help influence European legislation – in particular technical regulations affecting new vehicle design and development – that all companies must abide by, whether or not the country they manufacture in is a member of the EU.