Report: GM and Nissan confident that U.K. government will escape spending cuts

Article by Christian A., on August 27, 2010

Despite the threat of spending cuts, the UK units of General Motors Co. and Nissan Motor Co. remain optimistic that the new coalition government will ensure that funding for the loans stay in place to support carmakers.

GM released a statement that with the new government coalition moving into Parliament, previous spending commitments will be assessed in view of the new government's policies and priorities.

GM also said that manufacturing in the UK is a sector expected to make a valuable contribution to the UK and hence, "deserves government support." 

After the May 6 election, the center-right Conservative party entered a coalition with the Liberal Democrats.

In support of GM's Opel/Vauxhall turnaround, the previous Labour government signed off a 270 million pound ($390 million) loan guarantee as well as 20 million pounds for Nissan to support capacity adjustments and investment into new low-carbon products.

A Nissan UK spokeswoman said that a deal has been made with the Department of Business, Innovation and Skills (BIS) and that the new coalition government is "fully supportive" of pursuing a greener economy and zero emission transport. [via autonews]

Topics: gm, nissan, uk

If you liked the article, share on:

Comments

Recommended

Romanian automotive media publication cars.ro earlier said that the new Ford Fiesta will no longer be offered in the United States. Robert Stiller, Ford’s vehicle program manager for the B-segment,...
by - July 26, 2017
The Nurburgring is the one track that many automakers want to hold a record of, because only the best of the best do. This time, a group of extraordinary passionate...
by - July 25, 2017
Would you like your convertible to be inspired by a yacht? Well, you do not have to imagine it anymore - thanks to the Bentley Continental GT Convertible and Mulliner...
by - July 25, 2017
The 2018 Jaguar E-Pace is the leaping cat’s first venture into the compact SUV segment, and sure enough, it didn’t take long before an artist rendered a wilder version of...
by - July 25, 2017
Good news for Audi EU5 and EU6 diesel car owners in Europe. They can now update their cars to fit six-cylinder or eight-cylinder TDI engines through a retrofit program, and...
by - July 25, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries