The UKTI Automotive Investment Organisation (UKTI AIO) has hit its target of creating 15,000 new jobs six months ahead of schedule.
The original target for the UTKI AIO was to create 15,000 jobs within three years, but has already surpassed that number in just two and a half.
Since being established in 2013, the organisation has helped to secure investments throughout the UK and has doubled the amount of jobs created over the same period prior to its founding.
One example of the success of the UTKI AIO is in Sunderland – home to the Nissan car factory, which saw two major investments from US automotive suppliers earlier this year.
Supported by UKTI AIO, automotive technology company, TRW committed to building new production and assembly facilities in the region, bringing 130 new jobs; while the Lear Corporation has been able to secure major expansion plans for a new foam plant, creating 100 new jobs.
CEO of UKTI AIO, Joe Greenwell commented: “The UKTI Automotive Investment Organisation was established two and a half years ago to promote the UK automotive industry and bring investment into the country. It is delivering on its promise.
“Achieving our target of creating 15,000 jobs across the supply chain six months early is a fantastic example of what can be achieved when industry and Government come together. These high levels of investment throughout the country prove that the UK is a world-leading centre for the automotive industry.”
The announcement comes as Joe Greenwell steps down from his post as CEO of UTKI AIO. He was appointed by the government to set up the AIO in June 2013 and during his time with the organisaiton, has brought more than £1bn of capital investment to the sector.
The UK content of UK-built vehicles has also risen in that time, from 36% to 41%
Current Deputy CEO, Lawrence Davies is expected head up the organisation until a successor is appointed in the coming weeks.