UK gov't, carmakers will invest 1 billion pounds in engine research
LONDON (Reuters) -- The UNITED KINGDOM authorities and the automotive industry will invest 1 billion pounds ($1.5 billion) in a research center to come up with lowcarbon technologies and help secure the jobs of 30,000 individuals working in the nation's car engine supply chain.
The centre will look to research, develop and commercialize new propulsion technologies.
Caterpillar and Nissan Motor Co. Sixteen straight months of growing car sales in the United Kingdom are a rare bright spot for Europe's downturn-hit motor business and the federal government aims to convince more of the planet's top carmakers and automotive suppliers to base businesses in UK.
"The UK automotive sector has been amazingly successful recently, with billions of pounds of investment and new jobs," Company Secretary Vince Cable said on Friday. "With the next generation of vehicles set to be powered by drastically different technologies we must keep this impetus and act now."
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