The Welsh Government proposes investing £206M over ten years in Cardiff Wales Airport. It has spent millions of pounds sustaining it through the Covid pandemic but says it needs this new investment to win further business for the Rhoose airport and Welsh economy and it has also said the investment must be approved by the Competitions and Market Authority and final approval maybe three months … [Read more...]
Challenging future for suppliers, says CLEPA president
The automotive supply industry is the top private investor in research and development in Europe with €30 billion invested annually and accounts for 1.7 million direct jobs with 39,000 patents each year, said Matthias Zink, CLEPA president, but added that it will face a challenging future. He (right) told memberts of the European Association of Automotive Suppliers that 75% of the value … [Read more...]
Gridserve’s massive ev charger investment
Gridserve has announced the largest debt raise to-date globally for a privately-owned charge point operator, demonstrating the market’s confidence in both the transition to electric mobility and its mission to help deliver net zero transport at speed and scale. Comprising £326 million in committed loan facilities, with a further £200 million uncommitted accordion facility for future assets – a … [Read more...]
Massive car battery plant going to Bridgewater
Jaguar Land Rover parent Tata today confirmed it will build a £4 Billion battery plant outside Bridgewater, Somerset to open by 2026. On the eve of a by-election in the county tomorrow, the Government said it would be supporting the Indian company’s investment with grants, training and energy costs but has not confirmed a specific figure thought to be about £500 Million. The development was … [Read more...]
Automotive business ponders new site in Ebbw Vale
The Welsh Government is investing £8.5 million in new industrial space in Blaenau Gwent aimed at attracting businesses to the area, Economy Minister Vaughan Gething has announced. A 50,000 sq ft industrial unit will be built at Rhyd y Blew, Ebbw Vale, in the Tech Valleys area. The modern building will form the first phase of a wider site masterplan, and help satisfy huge demand for such … [Read more...]
EVs get Budget boost
Electric vehicles have been given a boost in the Budget. Sean Kemple, Managing Director of Close Brothers Motor Finance, said: “We are finally starting to see the government put its money where its mouth is when it comes to investing in greener roads. "An additional £620 million into public charging in residential areas and targeted plug-in vehicle grants will be a critical acceleration in … [Read more...]
Budget fails Wales, claims Welsh Government
Finance Minister Rebecca Evans has said the UK Government’s Spending Review and autumn Budget contains “clear gaps in funding” where Westminster has failed to invest in Wales. The Spending Review announced by the Chancellor on Wednesday contained no new investment for Coal Tip remediation or significant additional funding to support rail infrastructure in Wales – priorities highlighted by the … [Read more...]
Bamford pushes on with £1 Billion hydrogen project
Green entrepreneur Jo Bamford has joined forces with multi-family office Vedra Partners to launch HYCAP, a hydrogen investment fund which has set its sights on raising £1bn. The capital, which already stands at more than £200m after the first round of investment, will be injected largely into UK businesses, with the focus on speeding-up green hydrogen production and supply, creating … [Read more...]
Britishvolt appoint senior team for Welsh super-plant
Britishvolt, the UK’s foremost investor in battery technologies, has announced the appointment of Ray Macera as Project Director for the construction and implementation of Britain’s first battery gigaplant at Bro Tathan, St Athan in the Vale of Glamorgan. Macera, who is reporting directly to Britishvolt CEO, Orral Nadjari, leads one of the largest industrial investments in British history. The … [Read more...]
Motor industry disappointed with summer statement
Announcements to safeguard jobs and encourage consumer spending in some parts of the economy are welcome but it’s bitterly disappointing the Chancellor has stopped short of supporting the restart of one of the UK’s most important employers and a driver of growth, said Mike Hawes, SMMT Chief Executive. "The automotive sector has been particularly hard hit, with thousands of job losses already … [Read more...]
