Menu
19/03/2010
£1.5bn Ford UK Investment
Ford is preparing to invest £1.5bn in its four UK facilities over the next five years after securing a £360m Government loan guarantee.
Secretary of State for Business, Peter Mandelson, announced the £360 million backing of Ford's £450 million application to the European Investment Bank (EIB) at the company's Ford Dagenham site today.
Support from UK government is a major step in seeking loan approval from the EIB which will allow Ford to proceed with its UK investment strategy.
Ford Dagenham is one of four UK sites covering research, development and manufacture of low-CO2 technology for both cars and commercial vehicles.
Ford's research and development centre in Dunton, Essex, is the country's largest automotive engineering facility, and Ford products are assembled in Dagenham, Southampton and Bridgend.
Dagenham's frugal diesel engines, emitting as little as 98g CO2/km, feature in Ford's economical Fiesta and Focus ECOnetic models.
Fuel-saving ECOnetic technology has recently been extended to Ford's commercial vehicles including the Southampton-produced Ford Transit ECOnetic which went on sale last year.
Ford Bridgend is gearing up for production of the new EcoBoost petrol engine, which will offer CO2 and fuel savings of up to 20 per cent compared with conventional petrol-engine technology. It will debut in the new Ford C-MAX this autumn.
Ford has applied for a total of £450m from the European Investment Bank, which offers loans – repayable on commercial terms – targeting projects that improve fuel efficiency and reduce emissions. In support of the application, Ford has secured the £360m guarantee for its EIB loan through the UK Government's Automotive Assistance Programme.
Ford of Britain chairman, Joe Greenwell, said: "Ford welcomes this positive support from the Government. It greatly assists in delivering Ford's commitment to invest £1.5bn in new, affordable, volume-produced low CO2 technologies.
"Our customers will benefit from this extensive investment and so too will the 100,000 people in the UK whose jobs are directly or indirectly dependent on Ford. The loan also encourages the growth of high-technology, CO2-reducing research and development in the country.
"But perhaps most importantly the overall environment will benefit thanks to the mass-deployment, volume-produced emission-reducing technologies from Ford.
"The government's support of Ford's EIB loan application demonstrates its commitment to addressing the strategic needs of the UK automotive industry when it comes to supporting affordable CO2 reducing technologies," he added.
(PR)
Secretary of State for Business, Peter Mandelson, announced the £360 million backing of Ford's £450 million application to the European Investment Bank (EIB) at the company's Ford Dagenham site today.
Support from UK government is a major step in seeking loan approval from the EIB which will allow Ford to proceed with its UK investment strategy.
Ford Dagenham is one of four UK sites covering research, development and manufacture of low-CO2 technology for both cars and commercial vehicles.
Ford's research and development centre in Dunton, Essex, is the country's largest automotive engineering facility, and Ford products are assembled in Dagenham, Southampton and Bridgend.
Dagenham's frugal diesel engines, emitting as little as 98g CO2/km, feature in Ford's economical Fiesta and Focus ECOnetic models.
Fuel-saving ECOnetic technology has recently been extended to Ford's commercial vehicles including the Southampton-produced Ford Transit ECOnetic which went on sale last year.
Ford Bridgend is gearing up for production of the new EcoBoost petrol engine, which will offer CO2 and fuel savings of up to 20 per cent compared with conventional petrol-engine technology. It will debut in the new Ford C-MAX this autumn.
Ford has applied for a total of £450m from the European Investment Bank, which offers loans – repayable on commercial terms – targeting projects that improve fuel efficiency and reduce emissions. In support of the application, Ford has secured the £360m guarantee for its EIB loan through the UK Government's Automotive Assistance Programme.
Ford of Britain chairman, Joe Greenwell, said: "Ford welcomes this positive support from the Government. It greatly assists in delivering Ford's commitment to invest £1.5bn in new, affordable, volume-produced low CO2 technologies.
"Our customers will benefit from this extensive investment and so too will the 100,000 people in the UK whose jobs are directly or indirectly dependent on Ford. The loan also encourages the growth of high-technology, CO2-reducing research and development in the country.
"But perhaps most importantly the overall environment will benefit thanks to the mass-deployment, volume-produced emission-reducing technologies from Ford.
"The government's support of Ford's EIB loan application demonstrates its commitment to addressing the strategic needs of the UK automotive industry when it comes to supporting affordable CO2 reducing technologies," he added.
(PR)
Related Northern Ireland Motoring News Stories
Click here for the latest headlines.
09 April 2010
Ford Fiesta Tops UK Car Sales
Strong demand for Ford's best-ever product line-up has helped to increase the blue oval brand's UK market lead during March's changeover to the "10" plate. Ford's UK sales lead for the month, and for the year to date, has increased by more than 50% compared with 2009. Ford car sales, at 62,075, were up 18.7% compared with March 2009.
Ford Fiesta Tops UK Car Sales
Strong demand for Ford's best-ever product line-up has helped to increase the blue oval brand's UK market lead during March's changeover to the "10" plate. Ford's UK sales lead for the month, and for the year to date, has increased by more than 50% compared with 2009. Ford car sales, at 62,075, were up 18.7% compared with March 2009.
08 January 2010
Ford Enjoys 17% Market Share
Ford's top selling vehicle range secured almost 17% of the UK's total 2009 market for the blue oval, making one in six new vehicles a Ford. Ford sold 316,369 cars in the UK last year during a challenging trading period which saw the Government introduce its vehicle scrappage scheme mid year.
Ford Enjoys 17% Market Share
Ford's top selling vehicle range secured almost 17% of the UK's total 2009 market for the blue oval, making one in six new vehicles a Ford. Ford sold 316,369 cars in the UK last year during a challenging trading period which saw the Government introduce its vehicle scrappage scheme mid year.
26 March 2010
Ford Aims To Top Company Car Wish List
With the UK introduction of its new range of large cars – Ford S-MAX, Galaxy and Mondeo – Ford is reducing official recommended list prices by making current seasonal promotions permanent.
Ford Aims To Top Company Car Wish List
With the UK introduction of its new range of large cars – Ford S-MAX, Galaxy and Mondeo – Ford is reducing official recommended list prices by making current seasonal promotions permanent.
08 March 2010
Ford Extends UK February Lead
Ford is growing its UK registration lead ahead of the important March registration change sales month. Official sales figures from the Society of Motor Manufacturers and Traders (SMMT) show that Ford widened its 2010 sales advantage in February.
Ford Extends UK February Lead
Ford is growing its UK registration lead ahead of the important March registration change sales month. Official sales figures from the Society of Motor Manufacturers and Traders (SMMT) show that Ford widened its 2010 sales advantage in February.
31 March 2010
Ford Owner Witnesses Car Scrappage
One of Ford's last scrappage customers was so sentimentally attached to her old car that she followed "Ally" to her automotive grave after taking delivery of a new Ford Fusion.
Ford Owner Witnesses Car Scrappage
One of Ford's last scrappage customers was so sentimentally attached to her old car that she followed "Ally" to her automotive grave after taking delivery of a new Ford Fusion.
-
Northern Ireland WeatherToday:Low cloud, mist or fog at first will clear through the morning to leave a dry day with some prolonged sunny spells through the afternoon. Maximum temperature 21 °C.Tonight:Dry with clear spells for most places through the evening and overnight will allow the odd mist or fog patch to form. Coastal low cloud spreads into northern counties. Minimum temperature 9 °C.
