Volkswagen plans to launch 30 all-electric models to reposition itself as a leader in “green” transport. Matthias Mueller, chief executive of Europe’s biggest carmaker, said huge investments would be needed as the firm moves beyond the diesel scandal. He hopes that by 2025, all-electric cars would account for about 20-25% of the German carmaker’s annual sales.
Outlining what he described as the “key building blocks in the new group strategy”, Mr Mueller said VW aimed to “transform its core automotive business or, ...Read more
Mitsubishi Motors has forecast a net loss of 145bn yen ($1.4bn, £900m) for the current business year in the wake of its fuel efficiency scandal. The expected loss marks the first fall in profit for the car firm since the 2008 financial crisis. Mitsubishi had already reported a 39% drop in net profit in the year to the end of March due to the fuel scandal.
In the wake of the scandal, some $3bn was wiped off its market value and in ...Read more
EDM, a leading global provider of training simulators to the civil aviation and defence sectors, has announced that it is investing £1.3m to expand its manufacturing facility. The new 18,000 sq ft. structure is being built at EDM’s headquarters in Manchester to meet the demands of the company’s rapidly increasing order book. The purpose-built facility will house up to 40 employees across a range of disciplines and provide all the resources needed to enable the company to manufacture its full range ...Read more
Boeing has announced that it has reached agreement to sell 100 aircraft to Iran Air in a deal that could be worth $25bn (£17bn) at list prices. The deal marks a big step in US-Iran economic relations after sanctions were lifted on Tehran last year. Boeing said it is working with regulators to get the necessary US government approvals. If the deal is approved it will be the largest between a US business and Iran since the 1979 ...Read more
In association with key industrial partners ReshoringUK recently hosted a focused rail industry event. Held on 25th May 2016, at the Manufacturing Resource Centre, Alcester, the sector-specific day attracted over 80 visitors from leading UK companies. While some are already involved with the rail sector, others were keen to discover more about the industry and the opportunities available to become part of its supply chain in the UK. Motivational speaker, Steve Nevey, chaired the day’s presentations that were kicked-off by Dr Andy ...Read more
Date of Event – 6th September, 9.00am to 3.30pm
Location – Manufacturing Resource Centre, Alcester, Warwickshire
Programme for the Day & Speakers – Full programme to be announced
Reshoring UK has launched a new initiative to unlock opportunities in the multi-billion pound Automotive sector, with the support of our Partners GTMA ; BMTA ; CMF ; PMMDA ; MMMA ; EIA ; AFRC & Gambica Companies looking for supply chain requirements include organisations such as Jaguar Land Rover and Unipres who will be guest speakers ...Read more
Reshoring some industries could add £15.3 billion to the UK economy and create hundreds of thousands of jobs, according to research.
EY’s report Reshoring – Time to seize the opportunity says there is a “once-in-a-generation” chance to add billions to GDP and rebalance the UK’s economy. Looking over a 10-year period to 2025 it estimated the aerospace, defence and automotive industries would see the biggest benefit. Regionally, the North West would benefit the most with the creation of an extra £2.4 billion GDP, with ...Read more