In hopes for the UK to be a world leader in ultra low-carbon vehicles, the government will provide 360 million pounds ($551 million) in aid to Ford Motor Co. and Nissan Motor Co. to develop environmentally friendly technologies.
To support Ford's development of environmentally friendly technologies across its UK sites, the government is giving loan guarantees from its Automotive Assistance Programme (AAP).
The UK government said that Ford's intention to invest 1.5 billion pounds ($2.3 billion) over five years to develop technologies to reduce low carbon emission diesel and gasoline emissions will make sure that 2,800 jobs across its UK sites are protected.
In a statement last Thursday, UK Business Minister Peter Mandelson said that Ford plays an important role in UK's aim to be one of the leading manufacturers of low carbon vehicles.
Meanwhile, Nissan is building the Leaf electric car at its Sunderland factory in northeast England, and this will be supported by a 20.7 million pound ($31.6 million) grant from Britain.
More than 550 jobs will be protected with Nissan's production of the Leaf cars and their batteries. Last week, a 300 million euro ($412 million) loan guarantee from the UK for General Motors Co.'s Opel/Vauxhall arm was announced. This of course would help secure operations in Britain and the rest of Europe. [via autonews - sub. required]