SMMT launches Full Throttle initiative to drive UK Auto success

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he SMMT has launched Full Throttle: Driving UK Automotive Competitiveness, a plan designed to secure the success of the UK automotive industry. The report pointed to the industry’s strengths – the diversity of companies, the engineering base, a highly-skilled workforce and the strength of the market; however, noting the competitiveness in the global industry, the weaknesses must be addressed if the UK’s industry long-term success is to be secured.

The strategy calls for a new ‘Build Back Better Fund’ to support industry transformation, not just in automotive but across other manufacturing sectors, to improve production lines and overcome some of the areas where the UK lags in cost competitiveness or strategic support – from skills to energy costs. Most importantly, the fund will help the sector transition to Net Zero and transform our existing manufacturing and supply-chain.

The shift to electrified vehicles is the biggest challenge facing the sector, said the SMMT. Government is already working with industry to attract additional battery manufacturing to the UK but the report calls for a binding target of 60 GWh of battery capacity be built by 2030, to drive electric vehicle production in the country.

Mike Hawes, SMMT chief executive, said: “The next few years represent a critical period for the sector. The pace of technological change is accelerating and the competition more ferocious. If we are to secure vehicle manufacturing in this country, with all the benefits to society that it brings, decisions need to be made today.

“The automotive sector is uniquely placed to help this government deliver on its agenda; to level up, deliver net zero and trade globally. The government has made clear its support for the sector in its negotiations with Europe, so now is the time to go full throttle and take bold action to support one of Britain’s most important industries.”