Welsh Automotive Investment Organisation (AIO) is set up, aims to boost investments
The UK Trade & Investment and the Automotive Council, together with Welsh authorities, have joined up in order to create the Welsh Automotive Investment Organisation (AIO), whose main purpose will be to attract inward investment and increase opportunities in the automotive industry’s supply chain, including areas such as the Welsh Government’s Ebbw Vale enterprise zone.
The Automotive Investment Organisation (AIO) is to be led by former Ford chairman Joe Greenwell and will have access to funding amounting to £3m over the next two years to develop a strategy to bring the supply chain back to the UK, a news report reveals.
"I have worked in the automotive industry for many years so I understand the challenges of maintaining the levels of success we’ve seen recently in the auto sector. As head of the AIO, my job will be to promote why the UK is a great supply chain investment opportunity, increase R&D investment and strengthen our relationships overseas with global manufacturers." said Joe Greenwell.
A report from the Automotive Council in 2012 found there was an additional £3bn of new business that could be won by UK suppliers and overseas companies looking to set up or expand manufacturing facilities in the UK, which, in its turn, could lead to the creation of numerous jobs in the area.
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