The UK government is set to offer GBP13.3m in funding for the country’s automotive industry under the Advanced Manufacturing Supply Chain Initiative (AMSCI).
The AMSCI funding is worth GBP45.5m, of which GBP13.3m will be offered by the government through the Society of Motor Manufacturers and Traders (SMMT) bidding and the remaining GBP32.2m from industry contributions.
AMSCI is designed to improve the global competitiveness of UK advanced manufacturing supply chains and is run through the Department for Business, Innovation and Skills.
A new project, Long Term Advanced Supply Chain (LTASC), is designed to offer funding for a four year program of support for research and development, skills training and capital investment among 38 UK suppliers.
The project is expected to create nearly 1,000 jobs and retain 1,600 existing jobs throughout the supply chain.
It will increase the international competitiveness of UK automotive suppliers by addressing quality, cost, delivery (QCD), R&D capability, management and employee development through a new approach.
SMMT Industry Forum will deliver several aspects of the program supporting manufacturing companies in the UK and abroad.
SMMT chief executive Mike Hawes said: "This SMMT-driven programme will allow the supply chain to increase skills, R&D capability and manufacturing facilities, and will make UK-based companies more successful in competing for both local and overseas business."
