Former Ford chief to head automotive industry investment drive

Over the last two years, there has been significant investment from global automotive manufacturers in the UK. To build on this success, Business Secretary Vince Cable announced last month that he is setting up the Automotive Investment Organisation (AIO) which will be led by Joe Greenwell, the former Chairman of Ford.

The former chairman of Ford in Britain who retired in April with more than 40 years experience in the industry will be chief executive of the Automotive Investment Organisation, which will receive up to £3m of funding over the next two years, after being launched by business secretary Vince Cable.

It will be led by UK Trade and Investment and take strategic direction from the Automotive Council – a joint initiative between government and industry.

The government has held up the car industry as a poster child for British manufacturing, emphasising the investment it has received from companies in recent years, and its role in the drive to increase UK exports.

It has also highlighted a report by the council which claims there is an additional £3bn of untapped new business which could be won by UK suppliers and overseas companies seeking to set up or expand manufacturing facilities here.

The automotive sector is one of 11 key areas that the government is working collaboratively with industry on a long-term plan to deliver economic growth and prosperity.