A new supply chain commodity survey, commissioned by the Government identifies more than £3bn of opportunities for domestic and international automotive suppliers and companies wanting to invest in new facilities in the UK.
Published today by the Department for Business, Innovation and Skills (BIS), the survey identifies key components that vehicle manufacturers are looking to source in the UK to support their manufacturing operations.
The report summarises opportunities in terms of components required by automotive companies, and gives an estimated value. Engine castings and forgings, steering systems, trim interiors, vehicle upholstery, electronics and tyres are just some of the most highly sought-after components by UK-based vehicle manufacturers named in the report.
Paul Everitt, SMMT chief executive commented: “For some of the most highly sought-after components, significant supplier capability already exists in the UK, but for others, continued inward investment is required to ensure that UK suppliers can meet demand and close these valuable sourcing gaps.”
“A strong and successful supply base is essential to ensuring the future prosperity of the wider automotive industry, and SMMT, through the Automotive Council, will continue to support activities that strengthen supply chain capabilities in the UK,” he said.
Low carbon technologies and the global transition to such technologies also provide the UK with huge opportunities, particularly in the supply chain, according to the Automotive Council.
The Council will promote awareness of the scale of demand to UK companies and facilitate engagement with potential suppliers. These will include existing UK-based automotive suppliers, domestic suppliers in other sectors looking to enter the automotive market and international firms and investors.
Phil Davies, automotive analyst for BIS will provide further insight on the outcomes of the survey at SMMT’s next ‘Open Forum’ event in September. Click through the link to find out more and to book your place at SMMT ‘Open Forum‘ on September 20 this year.