The Government is providing a £360 million loan guarantee for Ford’s £450 million loan from the European Investment Bank (EIB). Ford is investing £1.5 billion over the next five years for the development of a new generation of environmentally friendly engines and vehicle technologies.
The Dunton site is one of four that will benefit from the investment which will also safeguard around 2,800 skilled jobs. The others are Ford’s manufacturing plants in Dagenham, Southampton and Bridgend in South Wales.
The Minister, who was also accompanied by EIB Vice President Simon Brooks, toured the laboratories where engineers put vehicles and engines through rigorous testing from extreme climates to crash simulators.
The UK projects to be supported cover research and development for Ford’s commercial vehicles such as the Transit and Connect vans and the development of low carbon emission diesel and petrol engines. This includes investment in production facilities for new lower carbon engines in Bridgend. Currently 25 per cent of all Ford engines worldwide and over 50 per cent of all Ford diesel engines are made in the UK.
European Investment Bank Vice President Simon Brooks said: “The European Investment Bank is pleased to support Ford’s cutting-edge engine research and development in Dunton and Dagenham and the company’s upgrading of manufacturing operations in Bridgend, Southampton and Dagenham, in particular through the European Clean Transport Facility. A new generation of low-emission engines and more fuel-efficient vehicles will develop new skills and innovation across the United Kingdom, and these new vehicles will make a significant contribution to combating climate change.”
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