We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

Nissan announces £250mn UK investment drive


Carmaker’s Sunderland plant to manufacture small luxury car

Article comments

Global carmaker Nissan is to investment £250 million in its UK operations, it was announced on Wednesday.

The company said bulk of the investment, aimed at manufacturing a small luxury car in its Infiniti range, would be targeted at its Sunderland plant leading to the creation of hundreds of jobs in the area.

Furthermore, Nissan said that the planned model was designed by its London-based team and the prototype was engineered at its technical centre in Bedfordshire.

However, in order to make space for the production of the new Infiniti model, Nissan would now move part of the investment in its hatchback range to another factory either in Russia or Spain. The carmaket said it would produce up to 60,000 Infiniti cars per annum but refused to give a name to the new model.

It is thought the new model would be based on its Ethera concept vehicle which was first displayed at the Geneva motor show in 2011. The concept was a petrol-electric hybrid with a 2.5 litre 4-cylinder engine. The engine was being jointly developed with Daimler and Nissan’s alliance partner Renault.

Colin Dodge, chief performance officer at Nissan UK, said, "The Sunderland factory is very competitive. The investment will be made over the next two years and the new Infiniti will start rolling off the assembly line in 2015."

In response to Nissan's announcement, UK business secretary Vince Cable said, "This is a strong endorsement of the quality of UK's car industry, which is creating jobs, taking on apprentices and contributing to building a stronger economy."

"The auto sector is living up to being one of the great success stories of our industrial strategy and a testimony to government and private sector working together in close partnership," he added.

Nissan said its Sunderland plant is on schedule to become the first car factory in the UK to have produced more than 500,000 cars in one calendar year.

Share:

Comments

Nissan announces £250mn UK investment drive
Financial Planning

Budget: What business wants

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..


Co-operative Group posts £2.5bn loss

Annual loss the worst in its 150 year historymore ..

Google sees 19% rise in Q1 revenue

However, company missed analysts' expectation as ad prices slidmore ..

Starbucks to move Europe HQ to UK

Coffee chain says move reflects growing importance of UK marketmore ..

Stay ahead of the curve

CFOs used to low interest rates ignore working capital optimisation at their perilmore ..

Digital streamlining of travel and expense claims [Part II]

Concur shows CFOs how to make life easier when the auditors come knockingmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..

Advertisement

* *