New UK business secretary Vince Cable has welcomed news General Motors has signed a series of deals worth more than GBP100m (US$151m).
Addressing his first meeting of the Automotive Council as co-chairman, Cable said he was pleased UK SMEs would benefit from GM’s announcement.
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“The Automotive Council is a good model of how sectors can work in partnership with the Government to tackle issues strategically,” he said.
“This is the sort of relationship I want government to have with industry and this Council’s approach is one that could be used by other sectors particularly those that use low carbon technology.
“I’m delighted that SMEs in the UK will benefit from these contracts from GM. It shows that it can compete and win business from big corporate companies that trade all over the world.”
GM has attributed the UK’s success in securing the GBP100m investment to the country’s lower transportation costs. The GBP100m applies to the lifetime of the contracts.
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By GlobalData“The creation of the Automotive Council and the renewed focus on manufacturing has re-emphasised that the UK is a key sourcing location,” said Vauxhall chairman and CEO Bill Parfitt.
